Colgate-Palmolive was founded in 1806. Assume its statement of cash flows reported the following information (in millions)
Question:
Colgate-Palmolive was founded in 1806. Assume its statement of cash flows reported the following information (in millions) for the year ended December 31, 2017:
Operating Activities
Net Income........................................................................$2,313
Depreciation...........................................................................376
Cash effect of changes in
Accounts Receivable................................................................40
Inventories..............................................................................(10)
Accounts Payable...................................................................(65)
Other.......................................................................................557
Net Cash Provided by Operations..................................$3,211
Required:
Based on the information reported in the operating activities section of the statement of cash flows for Colgate-Palmolive, determine whether the following accounts increased or decreased during the period: Accounts Receivable, Inventories, and Accounts Payable.
Step by Step Answer:
Fundamentals of Financial Accounting
ISBN: 978-1259269868
5th Canadian edition
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh