Assume a company had net Income of $61,000. It provided the following excerpts from its balance...
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Assume a company had net Income of $61,000. It provided the following excerpts from its balance sheet: Current assets: Accounts receivable Inventory Current liabilities: Accounts payable Income taxes payable. This Year $41,000 $57,000 $42,000 $14,000 Last Year $46,000 $53,000 $49,000 $14,000 The company sold a piece of equipment for cash proceeds of $25,000. The original cost of the asset was $85,000 and its accumulated depreciation at the time of sale was $65,000. The company's accumulated depreciation account has beginning and ending balances of $320,000 and $280,000, respectively. Besed solely on the information provided, the net cash provided by operating activities would be: Assume a company had net Income of $61,000. It provided the following excerpts from its balance sheet: Current assets: Accounts receivable Inventory Current liabilities: Accounts payable Income taxes payable. This Year $41,000 $57,000 $42,000 $14,000 Last Year $46,000 $53,000 $49,000 $14,000 The company sold a piece of equipment for cash proceeds of $25,000. The original cost of the asset was $85,000 and its accumulated depreciation at the time of sale was $65,000. The company's accumulated depreciation account has beginning and ending balances of $320,000 and $280,000, respectively. Besed solely on the information provided, the net cash provided by operating activities would be:
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Related Book For
Accounting Principles
ISBN: 978-1119048473
7th Canadian Edition Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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