Question

The following data are available for Allen Clapp Corporation. Net Income $200,000 Depreciation Expense 40,000 Dividends paid 60,000 Gain on sale of land 10,000 Decrease in accounts receivable 20,000 Decrease in accounts payable 30,000 Net cash provided by operating activities is $220,000. $240,000. $280,000. $160,000.

Answer 1

Answer:

The net cash provided by operating activities is calculated $220,000

Explanation:

Net income       $200,000

Depreciation Expense $40,000

Gain on sale of Land   ($10,000)

A/R-Decrease                20,000

A/P-Decrease               ($30,000)

Net cash from operating activities $220,000