Question

Sheridan Company reported net income of $67000 for the year. During the year, accounts receivable decreased...

Sheridan Company reported net income of $67000 for the year. During the year, accounts receivable decreased by $7900, accounts payable increased by $4500 and depreciation expense of $5200 was recorded. Net cash provided by operating activities for the year is

$84600.

$54600.

$65200.

$61800.

Business   Accounting   
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Answer #1
Amount Remarks
Net Income          67,000
Add: Decrease in Account Receivable            7,900 Cash received, Hence Added
Add: Increase in Account Payable            4,500 Cash Retained not paid, Hence Added
Add: Depreciation Expense-Non Cash            5,200 Non Cash Expense in Nature
Net Cash Provided by Operating Activities          84,600

Answer is $84,600/-

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