Prepare the Cash Flow Statement of Teresa’s Delivery Services using the following: Net Income 500,000 Depreciation expense 70,000 Gain on sale of property and equipment 10,000 Increase in trade and other receivables – net 250,000 Increase in trade and other payables 150,000 Amount of proceeds from the sale of property and equipment 50,000 Paid loan from a bank 100,000 Cash, January 1, 2016, 70,000

Prepare the Cash Flow Statement of Teresa’s Delivery Services using the following: Net Income 500,000 Depreciation expense 70,000 Gain on sale of property and equipment 10,000 Increase in trade and other receivables – net 250,000 Increase in trade and other payables 150,000 Amount of proceeds from the sale of property and equipment 50,000 Paid loan from a bank 100,000 Cash, January 1, 2016, 70,000

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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