COTB MC Qu. 15-52 (Algo) Assume a company had net...Assume a company had net income of $65,000 that included a gain on the sale of equipment of $4,000. It provided the followingexcerpts from its balance sheet:Current assets:Accounts receivableInventoryPrepaid expensesCurrent liabilities:Accounts payableAccrued liabilitiesIncome taxes payable.This Year$ 40,000$ 53,000$ 13,000Last Year$ 46,000$ 50,000$ 11,000$ 38,000$ 44,000$ 18,000$ 15,000$ 13,000 $ 10,000If the credits to the company's accumulated depreciation account were $21,000, then based solely on the information provided, thecompany's net cash provided by (used in) operating activities would be: Multiple ChoiceOOOO$83,000.$49,000.$41,000.$91,000.

Net cash provided by operating activities can be found on the statement of cash flows which shows…

Assume a company had net income of $65,000 that included a gain on the sale of equipment of $4,000. It provided the following excerpts from its balance sheet: Current assets: Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable This Year Last Year $ 40,000 $ 53,000 $ 13,000 $ 46,000 $ 50,000 $ 11,000 $ 38,000 $ 44,000 $ 18,000 $ 15,000 $ 13,000 $ 10,000 If the credits to the company's accumulated depreciation account were $21,000, then based solely on the information provided, the company's net cash provided by (used in) operating activities would be:

Assume a company had net income of $65,000 that included a gain on the sale of equipment of $4,000. It provided the following excerpts from its balance sheet: Current assets: Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable This Year Last Year $ 40,000 $ 53,000 $ 13,000 $ 46,000 $ 50,000 $ 11,000 $ 38,000 $ 44,000 $ 18,000 $ 15,000 $ 13,000 $ 10,000 If the credits to the company's accumulated depreciation account were $21,000, then based solely on the information provided, the company's net cash provided by (used in) operating activities would be:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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