Amarillo Company experienced the following events during its first accounting period. (1) Purchased $5,000 of inventory on account. (2) Returned $1,000 of the inventory purchased in Event 1. (3) Paid the remaining balance in account payable for the inventory purchased in Event 1. (4) Sold inventory purchased in Event 1 for $5,000 to customers on account. At the end of the first accounting period what would be reported for Net Operating Cash Flow on the Statement of Cash

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abiolataiwo2015 abiolataiwo2015 · Answer 1 · 2021-06-17T02:28:05+02:00

Answer:

$(4,000)

Explanation:

Calculation to determine At the end of the first accounting period what would be reported for Net Operating Cash Flow on the Statement of Cash

Inventory purchased on account $5000

Less Returned of inventory purchased $1,000

Net Operating Cash Flow $(4,000)

($5,000-$1,000)

Therefore At the end of the first accounting period what would be reported for Net Operating Cash Flow on the Statement of Cash is $(4,000)

Tundexi Tundexi · Answer 2 · 2022-02-24T10:47:09+01:00

The reported for Net Operating Cash Flow on the Statement of Cash will be $4,000,

Particulars Amount

Inventory purchased on account $5000

Less Returned of inventory purchased $1,000

Net Operating Cash Flow $4,000

In conclusion, the reported for Net Operating Cash Flow on the Statement of Cash will be $4,000,