Gleason Company reported net income of $242,000 for the year. During the year, accounts receivable increased by $32,000, account

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Gleason Company reported net income of $242,000 for the year. During the year, accounts receivable increased by $32,000, account

s payable decreased by $10,000 and depreciation expense of $65,000 was recorded. Net cash provided by operating activities for the year is $265,000. $102,000. $242,000. $337,000.

Business

2 answers:

Degger [83] · Answer 1 · 2023-12-30T21:06:37+03:00

Net cash provided by operating activities for the year is $265,000. $102,000. $242,000. $337,000 is :- <u>$265,000</u>

What is depreciation expense?

A fixed asset's share that has been deemed consumed in the current period is subject to depreciation expense. The cost is subsequently added to the expense list. With this charge, the carrying amount of fixed assets will be steadily decreased as their value is depleted over time. There is no cash outflow related to this item because it is non-monetary.

When an entry is made to the depreciation expenditure account, the contra asset account that offsets the fixed assets (asset) account is the accumulated depreciation account. Over the course of a fiscal year, the balance in the depreciation expenditure account grows; at year's end, the account is flushed out and its balance is reset to zero.

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FinnZ [79.3K] · Answer 2 · 2023-12-30T23:00:45+03:00

Net cash provided by operating activities for the year is $265,000. $102,000. $242,000. $337,000 is :- <u>$265,000</u>

What is depreciation expense?

A fixed asset's share that has been deemed consumed in the current period is subject to depreciation expense. The cost is subsequently added to the expense list. With this charge, the carrying amount of fixed assets will be steadily decreased as their value is depleted over time. There is no cash outflow related to this item because it is non-monetary.

When an entry is made to the depreciation expenditure account, the contra asset account that offsets the fixed assets (asset) account is the accumulated depreciation account. Over the course of a fiscal year, the balance in the depreciation expenditure account grows; at year's end, the account is flushed out and its balance is reset to zero.

To learn more about depreciation expense with the help of given link:

brainly.com/question/25530648

#SPJ4