Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 20 Jan 2018 My Price 9.00

Michigan Fur Traders

E12-19A (Learning Objective 3: Compute cash flows from operating activities—indirect method)

The accounting records of Michigan Fur Traders include these accounts:

 

 

 

Dec 1 Receipts

100,000

526,000

Dec   1

Payments   438,000      Receipts

5,000

528,000

Dec   1

Collections 526,000     Purchases

6,000

451,000

 

Cost of Sales  448,000

Dec 31

188,000

Dec 31

7,000

Dec 31

9,000

 

 

 

Dec   1         181,000

Acquisition 10,000

 

Dec 1 Depreciation

60,000

9,000        Payments        331,000

Dec 1 Purchases

14,500

451,000

Dec 31

191,000

 

Dec 31

69,000

Dec 31

134,500
             

 

 

 

Payments    29,000

Dec 1 Receipts

19,000        Quarterly

25,000        Dividend      19,000

Dec    1 Net Income

67,000

10,000

 

Dec 31

15,000

Dec 31

58,000

 

 

 

â–¶ Requirement

1.    Compute Michigan’s net cash provided by (used for) operating activities during December. Use the indirect method. Do you see any potential problems in Michigan’s cash flows from operations? How can you tell?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Jan 2018 11:01 PM My Price 9.00

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