Please show with solutions THANKS YOU :) Operating Activities – Indirect Method Workback4) The following information relates to the activities of I Miss You Company. Income tax may be ignored.Net cash flows form operating activitiesDecrease in trade payablesDecrease in inventory720,00023,00011,500Increase in trade receivables24,600Cash proceeds from sale of plant (book value of P25,000)14,000Increase in allowance for doubtful debts1,000What is the profit for the period?A. 698,100B. 730,100C. 744,100|D. 767,100

Net income of a company is the difference of total revenues and total expenses. Revenue items and…

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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