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ration reported the following information for the year ended Decemb =counts: 2024 able $86,700 63,240 2023 61,200 56,100 Income statement accounts: Sales Gain on sale of land

ration reported the following information for the year ended Decemb =counts: 2024 able $86,700 63,240 2023 61,200 56,100 Income statement accounts: Sales Gain on sale of land

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Current Attempt in Progress Wildhorse Corporation reported the following information for the year ended December 31: Balance sheet accounts: 2024 Accounts receivable Inventory Prepaid expenses Accounts payable Income tax payable Net cash provided by used by 2023 Save for Later $86,700 61,200 63,240 56,100 5,100 35,700 14,280 9,180 42,840 9,180 Income statement accounts: Sales Gain on sale of land Cost of goods sold Operating expenses Depreciation expense Income tax expense operating activities 2024 $382,500 15,300 153,000 76,500 20,400 Calculate the net cash provided (used) by operating activities using the direct method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) 51.000 N Attempts: 0 of 15 used 11 Submit Answer
Transcribed Image Text:Current Attempt in Progress Wildhorse Corporation reported the following information for the year ended December 31: Balance sheet accounts: 2024 Accounts receivable Inventory Prepaid expenses Accounts payable Income tax payable Net cash provided by used by 2023 Save for Later $86,700 61,200 63,240 56,100 5,100 35,700 14,280 9,180 42,840 9,180 Income statement accounts: Sales Gain on sale of land Cost of goods sold Operating expenses Depreciation expense Income tax expense operating activities 2024 $382,500 15,300 153,000 76,500 20,400 Calculate the net cash provided (used) by operating activities using the direct method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) 51.000 N Attempts: 0 of 15 used 11 Submit Answer
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