Business, 13.10.2020 06:01 sillslola816oxb5h7
Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as follows:
Year 1 Year 2
Assets
Cash $100,000 $(50,000 )
Accounts receivable (net) 50,000 100,000
Inventory 100,000 250,000
Equipment (net) 300,000 350,000
Total assets $550,000 $650,000
Liabilities and Equity Accounts payable $150,000 $100,000
Income taxes payable 80,000 30,000
Bonds payable 100,000 80,000
Common stock 100,000 200,000
Retained earnings 120,000 240,000
Total liabilities and Equity $550,000 $650,000
Using the indirect method to create the operating activities section of the statement of cash flows, the cash flow from accounts receivable would be recorded as:
a. a decrease of $50,000 under investing activities.
b. an increase of $50,000 under investing activities.
c. a decrease of $150,000 under investing activities.
d. an increase of $150,000 under operating activities.
Answers: 1
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Selected data for Kris Corporation’s comparative balance sheets for Year 1 and Year 2 are as follows...
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