Question
The following information is about Hamza company for year 2020: Net income $91,000 Operating expenses $210,000 Depreciation expense $33,000 Gain on sale equipment $7,000 Loss
The following information is about Hamza company for year 2020:
Net income $91,000
Operating expenses $210,000
Depreciation expense $33,000
Gain on sale equipment $7,000
Loss on sale trading securities $2,000
Increasing in A/R $11,000
Increasing in Supplies $3,000
Increasing in Allowance for doubtful accounts $6,000
Increasing of Buildings $90,000
Increasing in Salaries payable $18,000
Decreasing in Cash $16,000
Decreasing in Trading securities $4,000
Decreasing in Inventory $25,000
Decreasing in A/P $7,000
Decreasing in Long term bonds $55,000
Required: Compute "cash flow from Operating Activities"
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