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During 2018, Comsat Corporation had Net Income of $30,000, and sold land at book value for cash. Comparative balance sheets follow: Cash Accounts Receivable Land Buildings Accum. Depreciation Total Accounts Payable Common Stock Retained Earnings Total December 31, 2018 $ 42,000 21,000 70,000 <15,000> $ 118,000 $ 11,000 80,000 27.000 $ 118,000 December 31, 2017 $ 11,000 20,000 26,000 70,000 <10,000> $ 117,000 $ 30,000 70,000 17,000 $ 117,000 Net Cash Provided from Operating Activities for 2018 was what dollar amount?

During 2018, Comsat Corporation had Net Income of $30,000, and sold land at book value for cash. Comparative balance sheets follow: Cash Accounts Receivable Land Buildings Accum. Depreciation Total Accounts Payable Common Stock Retained Earnings Total December 31, 2018 $ 42,000 21,000 70,000 <15,000> $ 118,000 $ 11,000 80,000 27.000 $ 118,000 December 31, 2017 $ 11,000 20,000 26,000 70,000 <10,000> $ 117,000 $ 30,000 70,000 17,000 $ 117,000 Net Cash Provided from Operating Activities for 2018 was what dollar amount?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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During 2018, Comsat Corporation had Net Income of $30,000, and sold land at book value for cash. Comparative balance sheets follow: Cash Accounts Receivable Land Buildings Accum. Depreciation Total Accounts Payable Common Stock Retained Earnings Total December 31, 2018 December 31, 2017 $ 42,000 $ 11,000 21,000 20,000 26,000 70,000 0 70,000 <15,000> $ 118,000 Net Cash Provided from Operating dollar amount? <10,000> $ 117,000 $ 11,000 80,000 27,000 $ 118,000 Activities for 2018 was what $ 30,000 70,000 17,000 $ 117,000
Transcribed Image Text:During 2018, Comsat Corporation had Net Income of $30,000, and sold land at book value for cash. Comparative balance sheets follow: Cash Accounts Receivable Land Buildings Accum. Depreciation Total Accounts Payable Common Stock Retained Earnings Total December 31, 2018 December 31, 2017 $ 42,000 $ 11,000 21,000 20,000 26,000 70,000 0 70,000 <15,000> $ 118,000 Net Cash Provided from Operating dollar amount? <10,000> $ 117,000 $ 11,000 80,000 27,000 $ 118,000 Activities for 2018 was what $ 30,000 70,000 17,000 $ 117,000
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