Question
8. Salaries payable was $1,000 on the balance sheet for 31 December 2012. Salaries payable was $1,500 on the balance sheet for 31 December 2013.
8. Salaries payable was $1,000 on the balance sheet for 31 December 2012. Salaries payable was $1,500 on the balance sheet for 31 December 2013. The accountant made an error and forgot to take into consideration salaries payable when calculating the statement of cash flows. Before taking into consideration salaries payable, the net cash flow from operations was listed at $10,000 for the year ended 31 December 2013. After fixing the error, what should the correct net cash flow from operations be on the 31 December 2013 statement of cash flows? $________
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started