Swifty Company completed its hrst year of operations on sales revenue of $200,000 and operating expenses of $74,400. Accounts receivable and accounts payable at year-end were $54,900 and $28,600, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes. Compute net cash provided 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).) Net cash provided by operating activities $

Swifty Company completed its hrst year of operations on sales revenue of $200,000 and operating expenses of $74,400. Accounts receivable and accounts payable at year-end were $54,900 and $28,600, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes. Compute net cash provided 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).) Net cash provided by operating activities $

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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