he data given below are from the accounting records of the Kuhn Corporation:
Net Income (accrual basis) | $ | 48,000 |
Depreciation Expense | $ | 10,500 |
Decrease in Accounts Payable | $ | 2,650 |
Decrease in Inventory | $ | 3,150 |
Increase in Bonds Payable | $ | 11,500 |
Sale of Common Stock for cash | $ | 30,300 |
Increase in Accounts Receivable | $ | 4,800 |
Based on this information, the net cash provided by (used in) operating activities using the indirect method would be:
Multiple Choice
$59,500
$62,650
$54,200
$65,700
Net cash provided by operating activities = Net income + Depreciation - Decrease in accounts payable + Decrease in inventory + Increase in bonds payable - Increase in accounts receivable = 48,000+10,500-2650+3150+11500-4800 = 65,700 |
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he data given below are from the accounting records of the Kuhn Corporation: Net Income (accrual...
The data given below are from the accounting records of the Kuhn Corporation: Net Income (accrual basis) Depreciation Expense Decrease in Accounts Payable Decrease in Inventory Increase in Bonds Payable Sale of Common Stock for cash Increase in Accounts Receivable $55,000 $14,000 $ 3,000 $ 3,500 $15,000 $31,000 $ 5,500 Based on this information, the net cash provided by (used in) operating activities Multiple Choice $70,000 O $73.500 O $64.000 0 $79.000
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