Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the f

by | Oct 13, 2023 | Uncategorized

  

Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet: Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet: Utah Corp Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Increase/(Decrease) Cash $45,000 $27,000 $18,000 Accounts Receivable 48,000 45,000 3,000 Merchandise Inventory 180,000 132,000 48,000 Total Assets $273,000 $204,000 $69,000 How will the change in Merchandise Inventory be shown on the statement of cash flows? A. addition to net income under the operating activities section B. subtraction from net income under the operating activities section C. negative cash flow under the investing activities section D. positive cash flow under the financing activities section

  

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