The financial statements of New World, Incorporated, provide the following information for the current year: December 31 January 1 Accounts receivable $ 288,000 $ 391,500 Inventory $ 281,250 $ 267,000 Prepaid expenses $ 73,200 $ 70,500 Accounts payable (for merchandise) $ 259,800 $ 251,550 Accrued expenses payable $ 66,150 $ 79,950 Net sales $ 3,172,500 Cost of goods sold $ 1,672,500 Operating expenses (including depreciation of $64,000) $ 382,500 What is New World's net cash flow from operating activities for the current year?
The financial statements of New World, Incorporated, provide the following information for the current year: December 31 January 1 Accounts receivable $ 288,000 $ 391,500 Inventory $ 281,250 $ 267,000 Prepaid expenses $ 73,200 $ 70,500 Accounts payable (for merchandise) $ 259,800 $ 251,550 Accrued expenses payable $ 66,150 $ 79,950 Net sales $ 3,172,500 Cost of goods sold $ 1,672,500 Operating expenses (including depreciation of $64,000) $ 382,500 What is New World's net cash flow from operating activities for the current year?
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter16: Financial Statements And Closing Entries For A Corporation
Section: Chapter Questions
Problem 5AP
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The financial statements of New World, Incorporated, provide the following information for the current year:
December 31 January 1
Accounts receivable $ 288,000 $ 391,500
Inventory $ 281,250 $ 267,000
Prepaid expenses $ 73,200 $ 70,500
Accounts payable (for merchandise) $ 259,800 $ 251,550
Accrued expenses payable $ 66,150 $ 79,950
Net sales $ 3,172,500
Cost of goods sold $ 1,672,500
Operating expenses (including depreciation of $64,000) $ 382,500
What is New World's net cash flow from operating activities for the current year?
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