Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. assume a company had net income of $69,000 that in

Assume a company had net income of $69,000 that included a gain on the sale...

70.2K

Verified Solution

Question

Accounting

Assume a company had net income of $69,000 that included a gain on the sale of equipment of $4,000. It provided the following excerpts from its balance sheet:
This Year Last Year
Current assets:
Accounts receivable $ 40,000 $ 46,000
Inventory $ 53,000 $ 50,000
Prepaid expenses $ 13,000 $ 11,000
Current liabilities:
Accounts payable $ 38,000 $ 44,000
Accrued liabilities $ 18,000 $ 15,000
Income taxes payable $ 13,000 $ 10,000
If the credits to the companys accumulated depreciation account were $21,000, then based solely on the information provided, the companys net cash provided by (used in) operating activities would be:
Multiple Choice
$87,000.
$53,000.
$45,000.
$95,000.

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

Accounting
1.2K views

About 200 words if you are making a presentation to a group,write about the...

Physics
1.2K views

Consider the following situation. With the power supply off, the current limit one-half of a turn...

Biology
1.2K views

In his autobiography Frederick Douglass describes reading The Liberator Read what he says then answer...

Geometry
1.2K views

If all the letters in the word ENVELOPE are randomly rearranged what is the probability...

Basic Math
1.2K views

Solve 8 cos(5x) = 4 for the smallest three positive solutions.X =

Accounting
1.2K views

Verge, ine has twe peodycts-le Cedce and La Bougin Financial data...

Accounting
1.2K views

Grace Manufacturing Company needs to know its anticipated cash inflows for the next quarter by...

Accounting
1.2K views

Exercise 9-11 (Static) Activity Variances [LO9-2] Lavage Rapide is a Canadian company that owns and...

Accounting
1.2K views

Prepare Wells Technical Institute's balance sheet as of December 31, 2013. ...

Accounting
1.2K views

Electronic answer if possible please, thanks! P5-7 (LOI,3,5,6) GROUPWORK (Preparation of a...

Accounting
1.2K views

Both financial accounting and management accounting A. rely exclusively on historical data B. provide information...

Finance
1.2K views

4. Suppose that you are managing the only investment firm in a country with only...