X Company had these transactions during the first month of the new accounting period: Sold merchandise...
X Company had these transactions during the first month of the new accounting period:
Sold merchandise for $10,000$10,000 on credit.
Collected $3,000$3,000 from an account receivable.
Borrowed $10,000$10,000 from the bank.
Paid dividends of $500$500.
Using the above information, X Company would report net cash flow from operating activities is
Homework Answers
CALACULATION OF NET CASH FLOW FROM OPERATING ACTIVITIES:
| Cash collection from customers ( account receivable) | $3000 |
| Net Cash flow from operating activities | $3000 |
Note :
- Though merchandise sold is an operating activity, it was sold on credit. Hence there is no flow of cash.
- Borrowing from a bank and dividends paid are financing activities, hence they are not reported under operating activities.
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