Virginia Company uses the indirect method to prepare the statement of cash flows. Refer to the following
section of the comparative balance sheet:
Virginia Company
Comparative Balance Sheet
December 31, 2018 and 2017
2018 2017 Increase / (Decrease)
Accounts Payable $4,000 $6,000 $ (2,000)
Accrued Liabilities 2,000 1,000 1,000
Long-term Notes Payable 84,000 90,000 (6,000)
Total Liabilities $90,000 $97,000 $ (7,000)
How will the change in Accounts Payable be shown on the statement of cash flows?
A) as a deduction from investing cash flows
B) as an addition to operating cash flows
C) as an addition to Net Income
D) as a deduction from Net Income
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Virginia Company uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
In the United States, a three-pound can of coffee costs about $5. If the exchange rate is 0.8 euros per dollar and a three-pound can of coffee in Belgium costs 7 euros. What is the real exchange rate?
Answers (1)
The list below shows the closing costs on a home loan amount of $185,000. closing cost charge loan origination $275 title insurance $528 attorney's fees $750 appraisal $275 recording fees $121 if the buyer also paid a 3% real estate agent
Answers (2)
Which type of need (according to Maslow's theory of motivation) comes from a desire to realize and achieve one's true potential?
Answers (2)
Dawn is a manager for a pet grooming shop. She has decided to engage in planning by creating goals for her employees.
Answers (1)
Commonminussized balance sheets (A) show data for companies in the same industry. (B) show data for companies with approximately the same amount of assets. (C) show each balance sheet account as a percentage of total assets.
Answers (1)
New Questions in Business
Osborn Manufacturing uses a predetermined overhead rate of $19.40 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $256,080 of total manufacturing overhead for an estimated activity level of 13,200 direct
Answers (1)
A corporation has 44,904 shares of $26 par value stock outstanding that has a current market value of $238 per share. If the corporation issues a 5-for-1 stock split, determine the number of shares outstanding. Select the correct answer.
Answers (1)
A tire manufacturer produces 400 tires valued at $20 each. Three hundred tires are sold to a tire shop, which then sells them to households for $50 each. The remaining tires are unsold and are added to the tire manufacturer’s inventory.
Answers (1)
Cunningham, Inc. sells MP3 players for $60 each. Variable costs are $40 per unit, andfixed costs total $60,000. How many MP3 players must Cunningham sell to earn netincome of $140,000?
Answers (1)
Calculate the accounting profit or loss as well as the economic profit or loss in each of the following situations: a. A firm with total revenues of $150 million, explicit costs of $90 million, and implicit costs of $40 million b.
Answers (1)