Olympic, Inc. had the following positive and negative cash flows during the current year: Positive cash flows: Received from customers $240,000 Interest and dividends 50,000 Sale of plant assets 330,000 Negative cash flows: Paid to suppliers and employees $127,000 Purchase of investments 45,000 Purchase of treasury stock 36,000 Determine the amount of cash provided by or used for operating activities by the direct method.
Olympic, Inc. had the following positive and negative cash flows during the current year: Positive cash flows: Received from customers $240,000 Interest and dividends 50,000 Sale of plant assets 330,000 Negative cash flows: Paid to suppliers and employees $127,000 Purchase of investments 45,000 Purchase of treasury stock 36,000 Determine the amount of cash provided by or used for operating activities by the direct method.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Olympic, Inc. had the following positive and negative
Positive cash flows:
Received from customers $240,000
Interest and dividends 50,000
Sale of plant assets 330,000
Negative cash flows:
Paid to suppliers and employees $127,000
Purchase of investments 45,000
Purchase of
Determine the amount of cash provided by or used for operating activities by the direct method.
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