Moira Co. reported the following for its most recent fiscal year: Net income P 200,000 Depreciation expense 50,000 Increase in accounts receivable 10,000 Decrease in merchandise inventory 2,000 Increase in prepaid expenses 1,000 Decrease in accounts payable 9,000 Increase in wages payable Decrease in bonds payable 3,000 5,000 Loss on sale of machinery 1,000 What is the net cash flows from Operating Activities?

Moira Co. reported the following for its most recent fiscal year: Net income P 200,000 Depreciation expense 50,000 Increase in accounts receivable 10,000 Decrease in merchandise inventory 2,000 Increase in prepaid expenses 1,000 Decrease in accounts payable 9,000 Increase in wages payable Decrease in bonds payable 3,000 5,000 Loss on sale of machinery 1,000 What is the net cash flows from Operating Activities?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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