Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Virginia Company uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet Virginia Company

image text in transcribed
Virginia Company uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet Virginia Company Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Increase/Decrease) Accounts Payable $4,000 $6,000 $(2.000) Accrued Liabilities 2.000 1,000 1,000 Long-term Notes Payable B4.000 90,000 (6.000) Total Liabilities $90,000 $97,000 $(7.000) How will the change in Accounts Payable be shown on the statement of cash flows? O A. as a deduction from Net Income B. as an addition to operating cash flows OC. as an addition to Net Income OD. as a deduction from investing cash flows Click to select your answer MacBook Air

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

Students also viewed these Accounting questions

Question

What else could you do?

Answered: 1 week ago

Question

Be centered on your audience to increase your confidence.

Answered: 1 week ago