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.

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Related Book For  book-img-for-question

Fundamentals of Financial Accounting

ISBN: 978-1259269868

5th Canadian edition

Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh

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