A company had net income of $252,000 . Depreciation expense is $26,000 . During the year, accounts receivableand inventory increased by $15,000 and $40,000, respectively. Prepaid expenses and accounts payable decreasedby $2,000 and $4,000, respectively. There was also a loss on the sale of equipment of $3,000 . How much was thenet cash flow from operating activities on the statement of cash flows
using the indirect method?
a. $217,000.
b. $224,000.
c. $284,000.
d. $305,000.
b
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Nonsampling errors are frequently attributed to the competition
Indicate whether the statement is true or false
Evaluate issues according to their magnitude and ______.
Fill in the blank(s) with the appropriate word(s).
Most firms elected to define funds in the statement of changes in financial position as:
a. cash. b. working capital. c. current assets. d. owners’ equity.
Jessie is the maker of a $1000 promissory note in favor of Tyler. Tyler subsequently indorses the note to Ryan by signing just his name. Ryan in turn indorses it to Breanna by indorsing the back of the note, "Without recourse, Ryan." Breanna then indorses it to Liz, the present holder, with a special indorsement. If the note is dishonored by Jessie after it is properly presented to her for
payment by Liz, then Liz, after giving timely notice to Tyler, Ryan, and Breanna, may collect payment under signature liability from a. Tyler only. b. Breanna and Tyler only. c. either Tyler, Ryan, or Breanna. d. neither Tyler, Ryan, nor Breanna.