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The following selected account balances appeared on the financial statements of Washington Company: Accounts Receivable, January 1 $13,569 Accounts Receivable, December 31 8,677 Accounts Payable,
The following selected account balances appeared on the financial statements of Washington Company: Accounts Receivable, January 1 $13,569 Accounts Receivable, December 31 8,677 Accounts Payable, January 1 5,591 Accounts Payable, December 31 9,301 Merchandise Inventory, January 1 10,528 Merchandise Inventory, December 31 13,023 Sales 66,243 Cost of Merchandise Sold 32,223 Washington Company uses the direct method to calculate net cash flow from operating activities. Cash collections from customers were Oa. $86,027 Ob. $61,351 Oc. $71,135 Od. $66,243 . Accounts receivable from sales transactions were $46,705 at the beginning of the year and $63,166 at the end of the year. Net income reported on the income statement for the year was $118,616. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method would be Oa. $102.155 Ob. $118,616 Oc. $135,077 Od. $16,461 A company had net income of $269,780. Depreciation expense was $28,730. During the year, accounts receivable and inventory increased by $18,015 and $29,004, respectively. Prepaid expenses and accounts payable decreased by $3,660 and $6,924, respectively. There was also a loss on the sale of equipment of $6,336. How much was the net cash flow from operating activities on the statement of cash flows using the indirect method? Oa. $304,846 Ob. $241,891 Oc. $297,121 Od. $254,563
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