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Aleksandr-060686 [28]
3 years ago
11

A company's income statement showed the following: net income, $134,000; depreciation expense, $40,000; and gain on sale of plan

t assets, $14,000. An examination of the company's current assets and current liabilities showed the following changes accounts receivable decreased $11,400; merchandise inventory increased $28,000; prepaid expenses increased $8,200; accounts payable increased $5,400. Calculate the net cash provided or used by operating activities.
Business
1 answer:
Dvinal [7]3 years ago
4 0

Answer:

the net cash provided by operating activities is $168,600

Explanation:

Cash flow from operating activities

net income,                                                     $134,000

adjust for non-cash items

add depreciation expense,                            $40,000

less gain on sale of plant assets,                    $14,000

adjust for changes in working capital

decrease in accounts receivable                    $11,400

increase in merchandise inventory              ($28,000)

increase in  prepaid expenses                       ($8,200)

increase in accounts payable                          $5,400

net cash provided by operating activities    $168,600                                                                        

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A reduction in retained earnings of $2,950,000.

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3 0
3 years ago
"On January 1, MM Co. borrows $360,000 cash from a bank and in return signs an 8% installment note for five annual payments of $
scoray [572]

Answer:

1.Jan 01 Dr Cash 360,000

Cr Notes payable 340,000

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Explanation:

MM Co.

1 . Journal entry

Since MM Co. borrows $360,000 cash on January 1 from a bank this means we have to

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3 years ago
The late famous broadcast journalist Walter Cronkite said that one of his regrets in life was not actively participating in the
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Answer:

The correct answer is True.

Explanation:

According to Maslow's theory of human needs, self-realization needs are those that seek to satisfy our own personal abilities, to develop our potential, to do what we have better aptitudes for and the need to develop and expand metamotives (discover the truth, create beauty, produce order and foster justice). This was exactly what Walter was looking for, because it was what he really loved.

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3 years ago
The corporate charter of Luney Corporation allows the issuance of a maximum of 100,000 shares of common stock. During its first
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Answer:

Luney Corporation is authorized to sell 100000 shares

luney has issued =  70000 shares

luney has shares outstanding 63000

Explanation:

given data

maximum shares of common stock = 100,000

sold shares =  70,000

reacquired = 7,000

solution

we know here 100000 shares are mention in charter of the company

so Luney Corporation is authorized to sell 100000 shares

and  luney has issued =  70000 shares

so here  

we know that

luney has shares outstanding  = 70000 - 7000

luney has shares outstanding 63000

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3 years ago
How much does a trumpet weigh?
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I think that may depend on the trumpet. I'm not sure tho

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3 years ago
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