Gryphon Corporation reported net income of $75,000 for the year. During the year, accounts receivable DECREASES by $6000, accounts payable INCREASED by $3000, there were no gains or losses, and depreciation expense of $5000 was recorded. Using the indirect method, cash provided by operating activities for the year is: a) $89,000 b) $71,000 c) $83,000 d) $73,000
Gryphon Corporation reported net income of $75,000 for the year. During the year, accounts receivable DECREASES by $6000, accounts payable INCREASED by $3000, there were no gains or losses, and depreciation expense of $5000 was recorded. Using the indirect method, cash provided by operating activities for the year is: a) $89,000 b) $71,000 c) $83,000 d) $73,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 5RE: In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts...
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F47.
Gryphon Corporation reported net income of $75,000 for the year. During the year, accounts receivable DECREASES by $6000, accounts payable INCREASED by $3000, there were no gains or losses, and
a) $89,000
b) $71,000
c) $83,000
d) $73,000
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