contestada

In 2017, Wildhorse Corporation had net cash provided by operating activities of $486,000, net cash used by investing activities of $932,000, and net cash provided by financing activities of $559,000. At January 1, 2017, the cash balance was $300,000.
Required:
1. Compute the December 31 2017, cash.

Respuesta :

anwar96iqbal

Answer:

1. Cash at December 31, 2017 is $413,000.

Explanation:

As per IAS-7, which deals with the Statement of Cash Flow, the year end Cash balance should be calculated as follows under indirect method:

Cash opening balance

Add: Net cash provided by operating activites

Less: Net cash used by investing activities

Add: Net cash provided by financing activities

Note: The terms "Provided" and "Used" are the basis of addition and subtraction.

Calculation

300,000 + 486,000 - 932,000 + 559,000 = $413,000.  

Otras preguntas