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erma4kov [3.2K]
3 years ago
13

Leather Shop earned net income of $ 71,000 after deducting depreciation of $ 5,000 and all other expenses. Current assets decrea

sed by $ 4 comma 000​, and current liabilities increased by $ 9,000. How much was Leather Shops cash provided by operating activities​ (indirect method)?
Business
1 answer:
Thepotemich [5.8K]3 years ago
7 0

Answer:

$89,000

Explanation:

Given that,

Net Income = $71,000

Depreciation = $5,000

Increase in Current Liabilities = $9,000

Decrease in Current Assets = $4,000

Net Cash from Operating Activities:

= Net Income + Depreciation + Increase in Current Liabilities + Decrease in Current Assets

= $71,000 + $5,000 + $9,000 + $4,000

= $89,000

Therefore, the Leather Shops cash provided by operating activities​ (indirect method) is $89,000.

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On December 31, 20X2 and 20X3, Apex Co. had 3,000 shares of $100 par, 5% cumulative preferred stock outstanding. No dividends we
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4 years ago
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the benefit to his grades from studying for an hour

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Simply stated, it is the cost of not enjoying the benefits, profits or value associated with the alternative forgone or best alternative choice available.

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hopefully this helps you

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