Krech Corporation's comparative balance sheet appears below: Comparative Balance Sheet Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities. Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Ending Balance Beginning Balance $ 44,000 24,500 84,000 14,600 167,100 530,000 265,000 265,000 $ 432,100 $ 33,900 65,000 99,500 198,400 115,000 313,400 54,000 64,700 118,700 $ 31,800 33,000 75,500 11,300 151,600 510,000 229,500 280,500 $ 432,100 $ 22,000 85,500 101,500 209,000 99,000 308,000 39,000 85,100 Total stockholders' equity Total liabilities and stockholders' equity $ 432,100 $ 432,100 The company's net income (loss) for the year was $(10,200) and its cash dividends were $10,200. It did not sell or retire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating activities. 124,100 The company's net cash provided by (used in) operating activities is: Multiple Choice $31,800 $40,300 $11,400 $15,100
Krech Corporation's comparative balance sheet appears below: Comparative Balance Sheet Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities. Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Ending Balance Beginning Balance $ 44,000 24,500 84,000 14,600 167,100 530,000 265,000 265,000 $ 432,100 $ 33,900 65,000 99,500 198,400 115,000 313,400 54,000 64,700 118,700 $ 31,800 33,000 75,500 11,300 151,600 510,000 229,500 280,500 $ 432,100 $ 22,000 85,500 101,500 209,000 99,000 308,000 39,000 85,100 Total stockholders' equity Total liabilities and stockholders' equity $ 432,100 $ 432,100 The company's net income (loss) for the year was $(10,200) and its cash dividends were $10,200. It did not sell or retire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating activities. 124,100 The company's net cash provided by (used in) operating activities is: Multiple Choice $31,800 $40,300 $11,400 $15,100
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Krech Corporation's comparative balance sheet appears below:
Comparative Balance Sheet
Assets:
Current assets:
Cash and cash equivalents
Accounts receivable
Inventory
Prepaid expenses
Total current assets
Property, plant, and equipment
Less accumulated depreciation
Net property, plant, and equipment
Total assets
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable
Accrued liabilities
$40,300
$11,400
$15,100
Income taxes payable
Total current liabilities.
Bonds payable
Total liabilities
Stockholders' equity:
Common stock
Retained earnings
Ending Balance Beginning Balance
$ 44,000
24,500
84,000
14,600
167,100
530,000
265,000
265,000
$ 432,100
$ 33,900
65,000
99,500
198,400
115,000
313,400
54,000
64,700
118,700
$ 31,800
33,000
75,500
11,300
151,600
510,000
229,500
280,500
$ 432,100
$ 22,000
85,500
101,500
209,000
99,000
308,000
39,000
85,100
Total stockholders' equity
Total liabilities and stockholders' equity $ 432,100
$ 432,100
The company's net income (loss) for the year was $(10,200) and its cash dividends were $10,200. It did not sell or retire any property,
plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating
activities.
124,100
The company's net cash provided by (used in) operating activities is:
Multiple Choice
$31,800
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