Free Solved The records of Vintage Color Engraving reveal the following( click the icon to view the records ).


Screenshot 2024 01 13 170715

Screenshot 2024 01 13 170715

Screenshot 2024 01 13 170741

Step 1 of 2

A subset of accounting known as financial accounting is focused on reporting, summarizing, and evaluating business-related financial activities.

Explanation:

For continued profitability and compliance, professionals must have an excellent grasp of financial accounting.

Step 2 of 2

Preparing cash flow statement:

VCE
Cash Flow Statement
Year end 31 December 2024

Item Amount
Net income $36,000
Adjustments to Balance Operating Activities’ Net Cash and Net Income:
Depreciation expense (non-cash expense) $5,000
Increase in current liabilities (cash outflow) -$19,000
Decrease in current assets other than cash (cash inflow) $10,000
Net Cash Provided by Operating Activities $22,000

Explanation:

A financial statement that offers comprehensive data on all of a company’s cash inflows and outflows is called a statement of cash flows.

Final solution

Cash flow from the operating activity- $22,000.

 

 

 

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