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Operating Activities - Indirect Method Workback 4) The following information relates to the activities of I Miss You Company. Income tax may be ignored. Net cash flows form operating activities Decrease in trade payables 720,000 23,000 Decrease in inventory 11,500 Increase in trade receivables 24,600 Cash proceeds from sale of plant (book value of P25,000) 14,000 Increase in allowance for doubtful debts 1,000 What is the profit for the period? A. 698,100 В. 730,100 C. 744,100| D. 767,100

Operating Activities - Indirect Method Workback 4) The following information relates to the activities of I Miss You Company. Income tax may be ignored. Net cash flows form operating activities Decrease in trade payables 720,000 23,000 Decrease in inventory 11,500 Increase in trade receivables 24,600 Cash proceeds from sale of plant (book value of P25,000) 14,000 Increase in allowance for doubtful debts 1,000 What is the profit for the period? A. 698,100 В. 730,100 C. 744,100| D. 767,100

FINANCIAL ACCOUNTING
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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Operating Activities – Indirect Method Workback 4) The following information relates to the activities of I Miss You Company. Income tax may be ignored. Net cash flows form operating activities Decrease in trade payables Decrease in inventory 720,000 23,000 11,500 Increase in trade receivables 24,600 Cash proceeds from sale of plant (book value of P25,000) 14,000 Increase in allowance for doubtful debts 1,000 What is the profit for the period? A. 698,100 B. 730,100 C. 744,100| D. 767,100
Transcribed Image Text:Operating Activities – Indirect Method Workback 4) The following information relates to the activities of I Miss You Company. Income tax may be ignored. Net cash flows form operating activities Decrease in trade payables Decrease in inventory 720,000 23,000 11,500 Increase in trade receivables 24,600 Cash proceeds from sale of plant (book value of P25,000) 14,000 Increase in allowance for doubtful debts 1,000 What is the profit for the period? A. 698,100 B. 730,100 C. 744,100| D. 767,100
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