ACCT 5301 Lecture Notes - Regulation Fair Disclosure, Audit, Form 10-Q
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A company's income statement showed the following: net income,$126,000; depreciation expense, $37,000; and gain on sale of plantassets, $13,000. An examination of the company's current assets andcurrent liabilities showed the following changes as a result ofoperating activities: accounts receivable decreased $9,500;merchandise inventory increased $17,500; prepaid expenses decreased$6,900; accounts payable increased $3,400. Calculate the net cashprovided or used by operating activities.
a)$152,300.
b)$64,500.
c)$213,300.
d)$119,500.
e) $138,600.
question 2
Given the following information, determine the amount of cashflows from investing and financing activities.
Net Income | $58,000 |
Loss on sale of plantassets | 19,000 |
Cash received from saleof plant assets | 35,000 |
Cash received fromissuing stock | 80,000 |
Increase in incometaxes payable | 120,000 |
Cash used by investing activities, $35,000;
Cash used by financing activities, $61,000.
Cash provided by investing activities, $16,000;
Cash provided by financing activities, $80,000.
Cash used by investing activities, $16,000;
Cash used by financing activities, $80,000.
Cash provided by investing activities, $35,000;
Cash provided by financing activities, $61,000.
Cash provided by investing activities, $35,000;
Cash provided by financing activities, $80,000.