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Gelneren [198K]
3 years ago
7

The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period:

Business
1 answer:
Dafna1 [17]3 years ago
8 0

Answer:

Following are the solution to the given points:

Explanation:

For point a: Please find the attachment file

For point b:

The total asset value is= 92000

For point c:

The account receivable value is = (Transaction_1)- (Transaction_5)= 87000- 64000 = 23000

For point d:

The accounts payable valueis = 48000-17000 =31000

For point f:

The Net income is = 65000

For point g:

The value of net cash flow from the operating activity is= 42000

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