Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881



Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem

Mullinix Inc. reported the following information: net income, $55,000; decrease in accounts receivable, $12,000; decrease in accounts payable, $6,500; and depreciation expense, $10,000. What amount did Mullinix report as cash flow from operating activities on its statement of cash flows?

a. $50,500

b. $59,500

c. $70,500

d. $83,500

To determine


The indirect method for the readiness of the announcement of cash streams includes the modification of total compensation with changes in monetary record records to land at the measure of cash generated by operating activities.

To choose:

What answer is correct?


Explanation for correct answers:

Particular Amount ($)
Net income for operation
(+) Depreciation
Operating profit before working capital changes
(+) decrease in ac...

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