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Castile Inc. had a beginning balance of $2,900 in its Accounts Receivable account. The ending balance...

Castile Inc. had a beginning balance of $2,900 in its Accounts Receivable account. The ending balance of Accounts Receivable was $3,400. During the period, Castile recognized $57,000 of revenue on account. Castile’s Salaries Payable account has a beginning balance of $2,050 and an ending balance of $1,200. During the period, the company recognized $49,000 of accrued salary expense. Based on the information provided, determine the amount of net cash flow from operating activities?

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Answer #1

Answer:

Computation of amount of net cash flow from operating activities:

Particulars Amount ($)
Cash collected from customers:
Beginning balance of accounts receivable 2900
Add: Revenue on account 57000
Less: Ending balance of accounts receivable (3400) 56500
Less: Cash payment of Salaries:
Beginning balance of salaries payable (2050)
Add: Accrued salaries expesnse (49000)
Less: Ending balance of salaries payable 1200 (49850)
Net cash flow from operating activities 6650
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