Newfound aerial photography corp had the following account, Ask an Expert

Accounting

Newfound Aerial Photography Corp had the following account balance changes at the end of the year. Negative changes are shown in parenthesis.

Accounts Receivable $13,870

Prepaid Expenses ($1,400)

Inventory $15,500

Accumulated Depreciation $8,000

Accounts Payable ($2,655)

Taxes Payable $12,950

If Newfound produced Net Income of $225,500, what was Newfound's cash flow from operating activity? Show how you arrive at the cash flow value (25 points).

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9952156

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