The net income reported on the income statement for the current year was $255000. Depreciatio was $39600. Account receivable and inventories decreased by $12300 and $35300, respectively. Prepaid expenses and accounts payable increased, respectively, by $1200 and $7600. How much cash was provided by operating activities? O $305700 O $321100 O $348600 O $333400

The net income reported on the income statement for the current year was $255000. Depreciatio was $39600. Account receivable and inventories decreased by $12300 and $35300, respectively. Prepaid expenses and accounts payable increased, respectively, by $1200 and $7600. How much cash was provided by operating activities? O $305700 O $321100 O $348600 O $333400

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter6: Statement Of Cash Flows

Section: Chapter Questions

Problem 25E

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The net income reported on the income statement for the current year was $73,600. Depreciation recorded on store equipment for the year amounted to $27,400. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of YearCash $23,500 $18,700Accounts receivable (net) 56,000 48,000Merchandise inventory 35,500 40,000Prepaid expenses 4,750 7,000Accounts payable (merchandise…
e. The average sale period. (The inventory at the beginning of last year totaled$1,920,000.) f. The operating cycle. g. The total asset turnover. (The total assets at the beginning of last year totaled$12,960,000.)
Bountiful Company had sales of $650,000 and cost of goods sold of $200,000 during a year. The total assets balance at the beginning of the year was $175,000 and at the end of the year was $167,000. Calculate the asset turnover ratio. a.0.26 b.3.00 c.3.80 d.0.29
Micro, Inc., started the year with net fixed assets of $76,175. At the end of the year, there was $97,925 in the same account, and the company's income statement showed depreciation expense of $13,395 for the year. What was the company's net capital spending for the year? a. $83,990 b. $35,685 c. $21,750 d. $43,580 e. $41,170
Liberty Corporation reported beginning and ending total assets of $25,000 and $22,000, respectively. Its net sales for the year were $18,800. What was Liberty’s asset turnover ratio? a. 0.75 b. 0.85 c. 0.80 d. 1.25
Independence Company reported beginning and ending total assets of $38,000 and $42,000, respectively. Its net sales revenue for the year were $34,000. What was Independence's asset turnover ratio? OA. 0.80 ОВ. 0.85 OC. 1.18 OD. 0.81 pe here to search Pi 50 G This question:
Right Company reported beginning and ending total assets of $36,000 and $30,000, respectively. Its net sales revenue for the year were $26,070. What was Right's asset turnover ratio? A. 0.87 OB. 1.27 OC. 0.79 OD. 0.72
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Liberty Corporation reported beginning and ending total assets of $25,000 and $22,000, respectively. Its net sales for the year were $18,800. What was Liberty’s asset turnover ratio? 0.75 0.85 0.80 1.25
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The Sales Revenues for 1994 of ABC were $400, CoGS = $200; Depreciation = $50. Find the EBIT.
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