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  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...

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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.

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