part a

Using the selected data below, calculate the net cash provided by operating activities:

Net income	$250,000
Increase in accounts receivable	$13,000
Increase in accounts payable	$10,000
Loss on the sale of equipment	$8,000
Depreciation expense	$21,000
Purchase of new delivery truck	$40,000

Question 6 options:

$276,000

260,000

$282,000

$263,000.

Part b

The Mitchell Company has 100,000 shares of $5 par common stock outstanding. Management declares (not pays) a 10% stock dividend. The market value of a share of common stock was $15 immediately prior to the stock dividend declaration. The journal entry is:

Question 1 options:

	.debit stock dividends distributable, $50,000; credit common stock, $50,000.
	debit retained earnings, $150,000; credit stock dividend distributable, $5,000; credit paid in capital in excess of par, $145,000.
	debit stock dividends distributable, $150,000; credit common stock, $150,000.
	debit retained earnings, $150,000; credit stock dividend distributable, $50,000; credit paid in capital in excess of par, $100,000