Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1.) anderson corporation reported profit of $30,00

1.) Anderson Corporation reported profit of $30,000 for the year. During the year, accounts receivable...

50.1K

Verified Solution

Question

Accounting

1.) Anderson Corporation reported profit of $30,000 for the year. During the year, accounts receivable
increased by $7,000, accounts payable decreased by $3,000 and depreciation expense of $5,000
was recorded.
Net cash provided by operating activities for the year is:
$25,000
$29,000
$30,000
$45,000
2.) All of the following are examples of significant noncash activities EXCEPT?
the issue of common shares to purchase an asset.
the write off of an uncollectible account receivable.
the issue of debt to purchase an asset.
the conversion of bonds into common shares.
3.) 3. A company had profit of $230,000. Depreciation expense is $26,000. During the year, Accounts
Receivable and Inventory increased $15,000 and $40,000, respectively. Prepaid Expenses and
Accounts Payable decreased $2,000 and $4,000, respectively. There was also a loss on the sale of
equipment of $3,000. How much cash was provided by operating activities?
$196,000.
$202,000.
$276,000.
$288,000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

General Management
1.2K views

A manager of a holiday specialty store must determine how many temporary workers to hire for...

Physics
1.2K views

Suppose N 1000 and N 50 and primary is connected to 1 main supply of...

Geometry
1.2K views

Know it Note 7 4 THINK AND DISCUSS 1 XY BC Use what you know...

Basic Math
1.2K views

A sports arena can hold 18,500 people, plus or minus 1200 people.A. Write an absolute...

Basic Math
1.2K views

The coach of a college basketball team records the resting pulse rates of the team's...

Accounting
1.2K views

Suppose that a 30-year government bond has a maturity value of $1000 and a coupon...

Accounting
1.2K views

This Test: 120 pts possit Allen manufactures embroidered jackets. The company prepares feble budgets and...

Accounting
1.2K views

Rey Company's single product sells at a price of $230 per unit. Data for its...

Finance
1.2K views

assume ur own discount rate Ubero year I Freedan App is a new...

Finance
1.2K views

9-10 Net present value Lepton Industries has three potential projects, all...

Accounting
1.2K views

Comfort Company purchased 170 units of inventory on November 17, 2024. The units have a...

Finance
1.2K views

QUESTION 1 ?According to David McClelland, the desire to control, influence, or be responsible for...