1-3-3 Marigold Corp.'s net income for the current year was $374000. Depreciation was $48000. Accounts receivable...
1-3-3
Marigold Corp.'s net income for the current year was $374000. Depreciation was $48000. Accounts receivable and inventories decreased by $16000 and $25000, respectively. Prepaid expenses and salaries payable increased, respectively, by $2000 and $12000. Equipment was sold at a gain of $7200. How much cash was provided by operating activities?
|
$465800. |
|
$371000. |
|
$417000. |
|
$449000. |
Homework Answers
| Cash Flows from Operating activities: | |||||
| Net Income for the year | 3,74,000 | ||||
| Adjustment required for reconciliation | |||||
| Depreciation expense | 48,000 | ||||
| Decrease in Accounts receivable | 16,000 | ||||
| Decrease in Inventory | 25,000 | ||||
| Prepaid expense increased | -2,000 | ||||
| Increase in Salaries payable | 12,000 | ||||
| Gain on sale of equipment | -7,200 | ||||
| Net Cash provided from Operating activities | 4,65,800 | ||||
| Answer is $ 465,800 | |||||
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1-3-3
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