During 2019, Minh Corporation had a net income of $144,000. Ordinary share capital was $200, XXXXXXXXXX,000 shares at $1 par value) Included on its income statement were depreciation expense of...


During 2019, Minh Corporation had a net income of $144,000. Ordinary share capital was $200,000 (200,000 shares at $1 par value)


Included on its income statement were depreciation expense of $16,000, amortization expense of $1,800 and impairment loss of $200.


During the year, Accounts Receivable decreased by $8,200, Inventories increased by $5,400, Prepaid Expenses increased by $1,000, Accounts Payable decreased by $14,000, and Accrued Liabilities decreased by $1,700.


PPE was sold for $600 (cost was $1,000, accumulated depreciation was $700).


Dividends were paid for $700 and declared for $1,500.


Use the indirect method to determine net cash flows from operating activities.



Jun 27, 2021
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here