Solution:
Net cash provided by operating activities = Net income - Increase in accounts receivables - Decrease in accounts payable + Depreciation
= $92,700 - $6,180 - $4,120 + $10,300
= $92,700
Hence first option is correct.
Question 34 View Policies Current Attempt in Progress Sunland Company reported net income of $92700 for...
Current Attempt in Progress The net income reported on the income statement for the current year was $224000. Depreciation recorded on plant assets was $35300. Accounts receivable and inventories increased by $2500 and $7800, respectively. Prepaid expenses and accounts payable decreased by $1700 and $12200 respectively. How much cash was provided by operating activities? O $238500 O $224000 $259300 $204000 Savetor La Attempts: 0 of 1 used Submit Answer
Send to Gradebook Next> Prey Question 5 -/1 View Policies Current Attempt in Progress The following data exists for Sunland Company. 2022 2021 Accounts Receivable $85,000 $79,000 595,000 475,000 Net Sales Calculate the accounts receivable turnover and the average collection period for accounts receivable in days for 2022. (Round answers to 1 mal place, e.g. 15.2. Use 365 days for calculation.) Accounts receivable turnover times Average collection period days eTextbook and Media Attempts: 0 of 3 used Save for Later...
Sunland Company reported net income of $69700 for the year. During the year, accounts receivable increased by $5700, accounts payable decreased by $4900 and depreciation expense of $8400 was recorded. Net cash provided by operating activities for the year is _____________
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Question 2 View Policies Current Attempt in Progress Sunland Company is about to issue $309,200 of 10-year bonds paying an 11% nterest rate, with interest payable sem annually. The discount rate for such securities is 1 % Click here to view the factor table. For calculation purposes, use 5 decimal places as displayed in the factor table provided) How much can Sunland expect to receive for the sale of these bonds? (Round answer to O decimal places, eg. 2,575) Sunland...
Question 2 View Policies Current Attempt in Progress In its income statement for the year ended December 31, 2019, Sunland Company reported thef Operating expenses Interest revenue $32,380 $768,410 1,338,000 Loss on disposal of plant assets Cost of goods sold Interest expense 72,070 Net sales 18,030 2.422,500 6,550 other comprehensive income Prepare a multiple-step Income statement. (List other revenues before other expenses Sunland Company Income Statement For the Year Ended December 31, 2019 $ eTextbook and Media List of Accounts...
- / 10 View Policies Current Attempt in Progress Sunland Company purchased land, a building, and equipment on January 2, 2021, for $895,000. The company paid $160,000 cash and signed a mortgage note payable for the remainder. Management's best estimate of the value of the land was $370,000; of the building, $416,250; and of the equipment. $138,750. Record the purchase. (Use Mortgage Payable for account.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually....
Question 6 of 9 > - / 8 View Policies Current Attempt in Progress The balance sheet data of Whispering Company at the end of 2020 and 2019 are shown below. Cash Accounts receivable (net) Inventory Prepaid expenses Equipment Accumulated depreciation-equipment Land 2020 $29.900 55,400 64,800 15,100 89,600 (17,920) 70,100 $306,980 2019 $35.100 45,100 44,700 24.700 74.700 (8,000) 40.400 $256,700 Accounts payable Accrued expenses Notes payable-bank, long-term Bonds payable Common stock, $10 par Retained earnings $64,400 15,200 -0- 29,900 189,300...
View Policies Current Attempt in Progress At January 1, 2022, Sheffield Corp. reported Retained Earnings of $371000. During 2022, Sheffield had a net loss of $79500 and paid dividends to the stockholders of $53000. At December 31, 2022, the balance in Retained Earnings is O $291500 debit O $318000 credit O $371000 debit. O $238500 credit. Save for Later Attempts: 0 of 1 used Submit Answer
--/4 Question 3 View Policies Current Attempt in Progress The current sections of Buffalo Corp's balance sheets at December 31, 2021 and 2022, are presented here. Buffalo Corp's net income for 2022 was $114,750. Depreciation expense was $20,250. ort 2022 2021 I Current assets Cash $78,750 $74,250 60,000 66,750 126,000 129,000 20,250 16,500 Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable $285,000 $286,500 $ 11.250 $3,750 63.750 69.000 Total current liabilities $75,000 $72.750...