1) The following information is available from Ram Corp.'s accounting records for the year ended December 31, 2022: Cash paid to suppliers and employee Cash dividends paid 1,020,000 60,000 Cash received from customers 1,740,000 Rent received 20,000 Taxes paid 220,000 Net cash flow provided by operating activities for 2022 was A. 440,000 B. 460,000 C. 500,000 D. 520,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

I was told that the answer was 520,000. Is it true? If so, please help me and explain how it was solved. Thank you!

Operating Activities - Direct Method
1) The following information is available from Ram Corp.'s accounting records for the year ended December 31, 2022:
Cash paid to suppliers and employee
Cash dividends paid
1,020,000
60,000
Cash received from customers
1,740,000
20,000
Rent received
Taxes paid
220,000
Net cash flow provided by operating activities for 2022 was
A. 440,000
B. 460,000
C. 500,000
D. 520,000
Transcribed Image Text:Operating Activities - Direct Method 1) The following information is available from Ram Corp.'s accounting records for the year ended December 31, 2022: Cash paid to suppliers and employee Cash dividends paid 1,020,000 60,000 Cash received from customers 1,740,000 20,000 Rent received Taxes paid 220,000 Net cash flow provided by operating activities for 2022 was A. 440,000 B. 460,000 C. 500,000 D. 520,000
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Techniques of Time Value Of Money
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education