Selected data from PAPA Company's financial statements are as follows: Particulars 2020 2019 Cash 22,000 14,000 Accounts Receivable 42,000 16,000 MerchandiseInventory 22,000 83,000 Prepaid expenses 23,000 18,000 Total current assets 109,000 131,000 Total current liabilities 65,000 72,000 Net credit sales 221,000 326,000 Cost of goods sold 168,000 299,000 Net cash flow from operating activities 16,000 29,000 How much is the increase (decrease) of working capital?
Selected data from PAPA Company's financial statements are as follows: Particulars 2020 2019 Cash 22,000 14,000 Accounts Receivable 42,000 16,000 MerchandiseInventory 22,000 83,000 Prepaid expenses 23,000 18,000 Total current assets 109,000 131,000 Total current liabilities 65,000 72,000 Net credit sales 221,000 326,000 Cost of goods sold 168,000 299,000 Net cash flow from operating activities 16,000 29,000 How much is the increase (decrease) of working capital?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Selected data from PAPA Company's financial statements are as follows:
| Particulars | 2020 | 2019 |
| Cash | 22,000 | 14,000 |
| 42,000 | 16,000 | |
| MerchandiseInventory | 22,000 | 83,000 |
| Prepaid expenses | 23,000 | 18,000 |
| Total current assets | 109,000 | 131,000 |
| Total current liabilities | 65,000 | 72,000 |
| Net credit sales | 221,000 | 326,000 |
| Cost of goods sold | 168,000 | 299,000 |
| Net |
16,000 | 29,000 |
How much is the increase (decrease) of
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