The income statement for Granville Manufacturing Company is presented below. Granville Manufacturing Company Income Statement For the
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The income statement for Granville Manufacturing Company is presented below.
Granville Manufacturing Company
Income Statement
For the year ended December 31, 2019
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• Accounts receivable increased by $182,400.
• Inventory increased by $98,725.
• Prepaid expenses decreased by $64,100.
• Accounts payable increased by $43,850.
• Salaries payable increased by $54,900.
Required:
1. Prepare the net cash flows from operating activities using the indirect method.
2. What are the causes of the major differences between net income and net cash flow from operating activities?
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1 Cash flows from operating activities Net income 108120 Adjustments to r...View the full answer
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SMITA TEJWANI
Dr. Smita Tejwani had a keen interest in education from her early years. After securing the first position in academics in her school she completed the prestigious Economic (honors) course from Delhi University(Hindu College). Thereafter she successfully completed B.ed, PGDBM, MA(Economics)and M.Phil(Economics) She has taught economics at the graduate and postgraduate level in a renowned management college in New Delhi for several years. She has done intensive research in the area of employability issues in MSME units and successfully completed her Ph.D. (Economics). She has published various research papers in reputed journals and presented her research work in many national and international conferences and seminars. She is the recipient of young researcher award from the International Academic Association of Researchers in Humanities, IT, Engineering science. She has published her first book titled, “Employability of Vocationally Qualified workers in MSME units in Lucknow”. She is currently associated with internal educational portals and websites in the vertical of adult education as an economics expert and mentor.
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