Question
Asked Jan 8, 2020
176 views

Net income for the year for Carrie, Inc. was $750,000, but
the statement of cash flows reports that net cash provided
by operating activities was $860,000. What might account
for the difference?

check_circle

Expert Answer

Step 1

Statement of cash flows:

 

Statement of cash flows reports all the cash transactions which are responsible for inflow and outflow of cash and result of these transactions is reported as ending ba...

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in

Business

Accounting

Financial Accounting

Related Accounting Q&A

Find answers to questions asked by student like you
Show more Q&A
add
question_answer

Q: Sales reported on the income statement were $480,000. The accounts receivable balance increased $54,...

A: Cash Receipts: It encompasses all the cash receipts from sale of goods and on account receivable.

question_answer

Q: A company reports the following:Sales                                                         $1,500...

A: a.Compute accounts receivable turnover ratio.

question_answer

Q: When is bad debts expense recorded when using the direct write-off method?

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period ...

question_answer

Q: Discuss at least two situations in which estimates couldaffect the usefulness of information in the ...

A: Balance sheet: Balance Sheet is one of the financial statements that summarize the assets, the liabi...

question_answer

Q: Describe EVA.

A: EVA (Economic Value Added):

question_answer

Q: Applying the allowance method (percent-of-sales) to account for uncollectibles</b></p>&l...

A: Under percent of sales method, the bad debt expenses are computed as a percentage of credit sales. I...

question_answer

Q: Just-in-time inventory assumes all of the following, except:1. Zero defects.2. Resources will only b...

A: Click to see the answer

question_answer

Q: Frey Co. is considering the following alternative financing plans: Plan 1 Plan 2 Issue 5% bonds (at ...

A: Earnings per share on common stock is computed by dividing the income available to common stockholde...

question_answer

Q: Weddings on Demand sell on the account and manages their own receivables. An average experience for ...

A: the computations of net income under her present arrangement and under the plan: