[Sand Wraith]

Ok guys here’s the question I was working:

Lino Co.’s worksheet for the preparation of its statement of cash flows included the following:

December 31 January 1

Accounts receivable $29,000 $23,000

Allowance for uncollectible accounts 1,000 800

Prepaid rent expense 8,200 12,400

Accounts payable 22,400 25,400

Lino’s net income is $150,000. What amount should Lino include as net cash provided by operating activ­ities in the statement of cash flows?

My answer was 145,400$ but it turned out that the correct answer was 151,400$ am I wrong or there is a probelm with question?

AUD ... Passed
REG ... Passed
FAR ... Passed
BEC ... Passed

I'm Done!!

[leglock]

I agree with your answer. It appears they added the decrease in payable, but a decrease in a payable is a subtraction.

[Author]

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