Question
Selected accounts from the SFP of Tabby Ltd. at 31 December 20X7 and 20X6 are presented below. Tabby reported earnings of $125,000 in 20X7, and
Selected accounts from the SFP of Tabby Ltd. at 31 December 20X7 and 20X6 are presented below. Tabby reported earnings of $125,000 in 20X7, and depreciation expense was $20,000.
As at 31 December 20X7 20X6
Prepaid insurance $4,000 $16,000
Inventory 72,000 68,000
Rent payable 2,000 5,000
Pension liability 61,000 46,000
Required: Calculate cash from operating activities for 20X7.
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Financial accounting
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
9th edition
978-0132751216, 132751127, 132751216, 978-0132751124
