Alpha Company had the following account balances for 2018: Dec. 31 Jan. 1 Accounts receivable...
Alpha Company had the following account balances for 2018:
| Dec. 31 | Jan. 1 | |||||
| Accounts receivable | $ | 39,000 | $ | 30,000 | ||
| Accounts payable | 47,000 | 52,000 | ||||
Alpha reported net income of $220,000 for 2018. Assuming no other
changes in current account balances, what is the amount of net cash
provided by operating activities for 2018 reported in the statement
of cash flows?
Homework Answers
Ans $ 234000
| NET INCOME | 220000 |
| ADD: DECREASE IN ACCOUNTS RECEIVABLE | 9000 |
| ADD: INCREASE IN ACCOUNTS PAYABLE | 5000 |
| net cash provided by operating activities | 234000 |
Add: Increase in current liability and decrease in current asset
Less: increase in current asset and decrease in current liability
Add Answer to:
Alpha Company had the following account balances for 2018:
Dec. 31
Jan. 1
Accounts receivable...
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3.
Alpha Company had the following account balances for 2018: Accounts receivable Accounts payable Dec. 31 $42,000 51,000 Jan. 1 $33,000 56,000 Alpha reported net income of $240,000 for 2018. Assuming no other changes in current account balances, what is the amount of net cash provided by operating activities for 2018 reported in the statement of cash flows? Multiple Choice $244,000. $236,000. $254,000. O $226,000 Creble Company reported net income for 2018 in the amount of $49,000. The...
Waddell Company had the following balances in its accounting
records as of December 31, Year 1:
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Waddell Company had the following balances in its accounting records as of December 31, Year 1: Assets Cash Accounts Receivable Land Total $35,000 9,000 51,000 $95,000 Liabilities and Equity Accounts Payable Common Stock Retained Earnings Total $ 7,500 40,000 47,500 $95,000 The following accounting events apply to Waddell Company's Year 2 fiscal year: Feb. Mar. Apr. May July Sept. Oct. ced $20,000 cash from the issue of common stock. 1 Paid $6,000 cash in advance for a one-year lease for...
Waddell Company had the following balances in its accounting records as of December 31, Year 1: Liabilities and Equity Assets Cash Accounts Receivable 47,800 Common Stock Land Total 51,00 Accounts Payable 24,80e 88,80e -19,eee $131,00e ー33,000 Retained Earnings $131,00 Total The following accounting events apply to Waddell Company's Year 2 fiscal year: Dan. 1 Acquired $54,e8e cash from the issue of common stock Feb. 1 Paid $5,1e0 cash in advance for a one-year lease for office space Mar. 1 Paid...
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