FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Swifty Company completed its first year of operations on December 31, 2022. Its initial income statement showed that Swifty had
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 $
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Transcribed Image Text:Swifty Company completed its first year of operations on December 31, 2022. Its initial income statement showed that Swifty had 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 $
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