Parvo Dog Food Co. reported net income of $45,000 for the year ended December 31, 2000. January 1 balances in accounts receivable and accounts payable were $23,000 and $26,000 respectively. Year-end balances in these accounts were $22,000 and $28,000, respectively. Assuming that all relevant information has been presented, Parvo's cash flows from operating activities would be: a. $48,000 b. $44,000 c. $46,000 d. $45,000
Parvo Dog Food Co. reported net income of $45,000 for the year ended December 31, 2000. January 1 balances in accounts receivable and accounts payable were $23,000 and $26,000 respectively. Year-end balances in these accounts were $22,000 and $28,000, respectively. Assuming that all relevant information has been presented, Parvo's cash flows from operating activities would be: a. $48,000 b. $44,000 c. $46,000 d. $45,000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 13MCQ
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