20212020Net profit for the year23002150RECEIPTS FROM GRANTS FOR THE FINANCIAL YEAR800300Revenue from grants for the financial year200150Profit on the sale of fixed assets and investments in the financial year4000Staff compensation provisions250200Loss on impairment of fixed assets for use400100Depreciation for use500450Other operating costs22002100Total operating expenses33502850 Taking into account that the income and expenses of the year are realized either in cash or with short-term credit, the working capital created or consumed during the fiscal year 2021 by the operating activity is;

Answered: Taking into account that the income and…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter7: Fixed Assets, Natural Resources, And Intangible Assets

Section: Chapter Questions

Problem 7.1MBA

See similar textbooks

Related questions

Concept explainers

Question

	2021	2020
Net profit for the year	2300	2150
RECEIPTS FROM GRANTS FOR THE FINANCIAL YEAR	800	300
Revenue from grants for the financial year	200	150
Profit on the sale of fixed assets and investments in the financial year	400	0
Staff compensation provisions	250	200
Loss on impairment of fixed assets for use	400	100
Depreciation for use	500	450
Other operating costs	2200	2100
Total operating expenses	3350	2850

Taking into account that the income and expenses of the year are realized either in cash or with short-term credit, the working capital created or consumed during the fiscal year 2021 by the operating activity is;

Expert Solution

Step by step

Solved in 4 steps with 5 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions