Required information

Exercise 13-10A (Algo) Recording supplies and identifying their effect on financial statements LO 13-1, 13-3, 13-4

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[The following information applies to the questions displayed below.]

Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $15,300 of services on account, and (2) he purchased $3,200 of supplies on account. There were $850 of supplies on hand as of December 31, Year 1.

Exercise 13-10A (Algo) Part d

d. Explain why the amounts of net income and net cash flow from operating activities differ.

Required information

Exercise 13-10A (Algo) Recording supplies and identifying their effect on financial statements LO 13-1, 13-3, 13-4

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[The following information applies to the questions displayed below.]

Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $15,300 of services on account, and (2) he purchased $3,200 of supplies on account. There were $850 of supplies on hand as of December 31, Year 1.

Exercise 13-10A Algo) Part d

d. Explain why the amounts of net income and net cash flow from operating activities differ.

Required information

Exercise 13-10A (Algo) Recording supplies and identifying their effect on financial statements LO 13-1, 13-3, 13-4

Skip to question

[The following information applies to the questions displayed below.]

Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $15,300 of services on account, and (2) he purchased $3,200 of supplies on account. There were $850 of supplies on hand as of December 31, Year 1.

Exercise 13-10A (Algo) Part d

d. Explain why the amounts of net income and net cash flow from operating activities differ.