Wilton Company reported net income of 80000 for the year. During the year, accounts receivable decreased by 7000, accounts payable increased by 3000 and depreciation expense of 5000 was recorded. Net cash provided by operating activities for the year is: A. 70000 B. 75000 C. 79000 D. 95000 E. None of the above

Wilton Company reported net income of 80000 for the year. During the year, accounts receivable decreased by 7000, accounts payable increased by 3000 and depreciation expense of 5000 was recorded. Net cash provided by operating activities for the year is: A. 70000 B. 75000 C. 79000 D. 95000 E. None of the above

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 13MCQ

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A company made a profit for the year of $18,750, after accounting for depreciation of $1,250. During the year, non-current assets were purchased for $8,000, receivables increased by $1,000, inventory decreased by $1,800 and payables increased by $350. The increase in cash and bank balances during the year was ........................................
Sheffield Company reported net income of $73000 for the year. During the year, accounts receivable decreased by $7500, accounts payable increased by $4500 and depreciation expense of $5500 was recorded. Using the indirect method, net cash provided by operating activities for the year is? a. $90500. b. $67500. c. $61000. d. $70500.
Windsor, Inc. reported net income of $247000 for the year. During the year, accounts receivable increased by $18000, accounts payable decreased by $8000 and depreciation expense of $38000 was recorded. Net cash provided by operating activities for the year is $235000. $259000. $247000. $219000.
Bramble Company reported net income of $69800 for the year. During the year, accounts receivable increased by $6100, accounts payable decreased by $5000 and depreciationexpense of $7800 was recorded. Net cash provided by operating activities for the year is O $63100. O $88700. O $69800. O $66500.
Rogers Company reported net income of $44,587 for the year. During the year, accounts receivable increased by $7,982, accounts payable decreased by $2,757, and depreciation expense of $6,561 was recorded. Net cash provided by operating activities under the indirect method for the year is a.$44,587 b.$56,373 c.$61,887 d.$40,409
The net income reported on the income statement for the current year was $255000. Depreciation was $39600. Account receivable and inventories decreased by $12300 and $35300, respectively. Prepaid expenses and accounts payable increased, respectively, by $1200 and $7600. How much cash was provided by operating activities? $305700 O $321100 $348600 O $333400
Mazaya Company reported net income of R.O.70,000 for the year. During the year, accounts receivable decreased by R.O.7,000, accounts payable increased by R.O.3,00oo and depreciation expense of R.0.5,000 was recorded. Net cash provided by operating activities for the year is
Blossom Company reported net income of $386000 for the year. During the year, accounts receivable increased by $28000, accounts payable decreased by $12000 and depreciation expense of $60000 was recorded. Net cash provided by operating activities for the year is $386000. $366000. $342000. $406000.
On the indirect statement of cash flows, $500,000 relating to notes payable was subtracted from net income to get indirect cash flow from operations. This must mean that: Notes payable were $500,000 at the beginning of the year. O Notes payable were $500,000 at the end of the year. Incorrect. Notes payable increased by $500.000 over the year. Notes payable decreased by $500,000 over the year.
Filton Company reported net income of $44,204 for the year. During the year, accounts receivable increased by $7,925, accounts payable decreased by $4,003 and depreciation expense of $46,347 was recorded. Find the net cash provided by operating activities for the year. Select the correct answer. $44,204 $78,623 $102,479 $94,473
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 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
Rogers Company reported net income of $33,858 for the year. During the year, accounts receivable increased by $7,052, accounts payable decreased by $2,151 and depreciation expense of $70,819 was recorded. Net cash flows from operating activities for the year is a. $109,578 b. $95,474 c. $33,858 d. $113,880