Alvez Company reports net income of $305,000 for the year ended December 31. It also reports $93,700 depreciation expense and a $10,000 loss on the sale of equipment. Its comparative balance sheet reveals a $40,200 increase in accounts receivable, a $10,200 decrease in prepaid expenses, a $15,200 increase in accounts payable, a $12,500 decrease in wages payable, and a $100,000 decrease in notes payable. Calculate the cash provided (used) in operating activities using the indirect method.
A. $381,400.
B. $371,400.
C. $461,800.
D. $351,000.
E. $361,000.
Answer: A
Business
You might also like to view...
E-books have changed the _________ for books.
a. supply conditions b. demand conditions c. terms of trade d. way people shop
Business
Bonds are generally issued in denominations of $1,000
a. True b. False Indicate whether the statement is true or false
Business
A person with high job satisfaction will tend to have ________ life satisfaction.
A. low positive B. high negative C. weak D. moderate E. high
Business
Through the practice of insourcing, a company brings in an external company to run its ________
A) human resource management B) nonessential operations C) essential operations D) value proposition E) facilitating functions
Business