Dicksen Company’s income statement for the year ended December 31, 2022 reported profit of P360,000. The financial statements also disclosed the following information: Depreciation 60,000 Increase in accounts receivable 140,000 Increase in inventory 48,000 Decrease in accounts payable 76,000 Increase in salaries payable 28,000 Purchase of equipment 150,000 Increase in long-term note payable 300,000 Net cash provided by operating activities for 2022 should be reported as a. 84,000 b. 184,000 c. 234,000 d. 204,000

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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Dicksen Company’s income statement for the year ended December 31, 2022 reported profit of P360,000. The financial statements also disclosed the following information:
  Depreciation                                                                  60,000
  Increase in accounts receivable                                      140,000
  Increase in inventory                                                     48,000
  Decrease in accounts payable                                         76,000
  Increase in salaries payable                                            28,000
  Purchase of equipment                                                   150,000
  Increase in long-term note payable                                 300,000
  Net cash provided by operating activities for 2022 should be reported as

a. 84,000

b. 184,000

c. 234,000

d. 204,000

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