Volutia Corporation's comparative financial statements included the following amounts for the current year: Depreciation expense $102,000 Loss on sale of fixed assets 38,000 Decrease in fixed assets 155,000 Increase in accounts receivable 37,000 Decrease in accounts payable 42,000 Decrease in inventory 71,000 Increase in taxes payable 19,000 Net income 72,000 Compute net cash provided by operating activities using the indirect method. Group of answer choices $223,000 $68,000 $22,000 $185,000
Volutia Corporation's comparative financial statements included the following amounts for the current year: Depreciation expense $102,000 Loss on sale of fixed assets 38,000 Decrease in fixed assets 155,000 Increase in accounts receivable 37,000 Decrease in accounts payable 42,000 Decrease in inventory 71,000 Increase in taxes payable 19,000 Net income 72,000 Compute net cash provided by operating activities using the indirect method. Group of answer choices $223,000 $68,000 $22,000 $185,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Volutia Corporation's comparative financial statements included the following amounts for the current year:
Compute net cash provided by operating activities using the indirect method.
| $102,000 | |
| Loss on sale of fixed assets | 38,000 |
| Decrease in fixed assets | 155,000 |
| Increase in |
37,000 |
| Decrease in accounts payable | 42,000 |
| Decrease in inventory | 71,000 |
| Increase in taxes payable | 19,000 |
| Net income | 72,000 |
Group of answer choices
$223,000
$68,000
$22,000
$185,000
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