Question

A company had net income of $244,462. Depreciation expense is $21,276. During the year, Accounts Receivable...

A company had net income of $244,462. Depreciation expense is $21,276. During the year, Accounts Receivable and Inventory increased by $17,556 and $39,282, respectively. Prepaid Expenses and Accounts Payable decreased by $2,613 and $7,528, respectively. There was also a loss on the sale of equipment of $3,744. How much cash was provided by operating activities?

Select the correct answer.

$207,729

$252,671

$269,482

$200,241

Homework Answers

Answer #1

Net cash provided by operating activities = $207,729

Statement of Cash Flows

Cash flows from operating activities;

Net Income

$244,462

Adjustments to reconcile net income to

Net cash provided by operating activities

Add : Depreciation Expenses

$21,276

Less : Increase In Accounts Receivables

($17,556)

Less : Increase In Inventories

($39,282)

Add : Decrease In Prepaid Expenses

$2,613

Less : Decrease In Accounts Payable

($7,528)

Add : Loss on sale of Equipment

$3,744

($36733)

Net cash provided by operating activities

$207,729

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