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andrew11 [14]
3 years ago
14

Amarillo Company experienced the following events during its first accounting period. (1) Purchased $5,000 of inventory on accou

nt. (2) Returned $1,000 of the inventory purchased in Event 1. (3) Paid the remaining balance in account payable for the inventory purchased in Event 1. (4) Sold inventory purchased in Event 1 for $5,000 to customers on account. At the end of the first accounting period what would be reported for Net Operating Cash Flow on the Statement of Cash
Business
1 answer:
Ksenya-84 [330]3 years ago
6 0

Answer:

$(4,000)

Explanation:

Calculation to determine At the end of the first accounting period what would be reported for Net Operating Cash Flow on the Statement of Cash

Inventory purchased on account $5000

Less Returned of inventory purchased $1,000

Net Operating Cash Flow $(4,000)

($5,000-$1,000)

Therefore At the end of the first accounting period what would be reported for Net Operating Cash Flow on the Statement of Cash is $(4,000)

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