Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

During 2021, Cavite Coffee had profit of P8,200,000. Included on its income statement was depreciation expense of P460,000 and amortization expense of P60,000. During the

image text in transcribed

During 2021, Cavite Coffee had profit of P8,200,000. Included on its income statement was depreciation expense of P460,000 and amortization expense of P60,000. During the year, Accounts Receivable increased by P680,000; Inventories decreased by P380,000; Prepaid Expenses decreased by P40,000; Accounts Payable increased by P1,000,000, and Accrued Liabilities decreased by P90,000. Required: Determine net cash flows from operating activities using the Indirect method

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Effective Auditing The Simple Systems Series Book 5

Authors: Jennie Clark CQP

1st Edition

B09YHJR18Y, 979-8802614082

More Books

Students also viewed these Accounting questions