Determine amount of net cash flow from operating activities

Assignment Help Accounting Basics

Reference no: EM131967516

Problem

Panoramic Inc. had a beginning balance of $3,400 in its Accounts Receivable account. The ending balance of Accounts Receivable was $3,600. During the period, Panoramic recognized $45,000 of revenue on account. Panoramic's Salaries Payable account has a beginning balance of $2,550 and an ending balance of $1,100. During the period, the company recognized $39,850 of accrued salaries expense.

Required

Based on the information provided, determine the amount of net income?

Based on the information provided, determine the amount of net cash flow from operating activities?

Reference no: EM131967516

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