Answered

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Accounts receivable arising from sales to customers amounted to $44000 and $51000 at the beginning and end of 2022, respectively. Income reported on the income statement for the year was $283000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is:_______.
a. $290000.
b. $327000.
c. $276000.
d. $283000.

Sagot :

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Answer:

c. $276,000

Explanation:

Calculation for the cash flows from operating activities to be reported on the statement of cash flows

Using this formula

Cash flows from operating activities =Income reported +Beginning Account Receivable-Ending Account Receivable-

Let plug in the formula

Cash flows from operating activities=$283,000+$44,000-$51,000

Cash flows from operating activities=$276,000

Therefore the cash flows from operating activities to be reported on the statement of cash flows is $276,000

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