Preparing the Cash Flow from Operating Activities Section Atlas Corp. reported the following amounts for the year ended December 31, 2020. Account Dec 31, 2020 Net income $ 460,000 Decrease in accounts payable 17,600 Increase in prepaid rent 6,000 Depreciation expense 56,000 Increase in accounts receivable 26,000 Increase in interest payable 2,400 Calculate net cash provided by operating activities for the year ended December 31, 2020. Use a negative sign with your answer to indicate a cash outflow, if applicable.
Preparing the Cash Flow from Operating Activities Section Atlas Corp. reported the following amounts for the year ended December 31, 2020. Account Dec 31, 2020 Net income $ 460,000 Decrease in accounts payable 17,600 Increase in prepaid rent 6,000 Depreciation expense 56,000 Increase in accounts receivable 26,000 Increase in interest payable 2,400 Calculate net cash provided by operating activities for the year ended December 31, 2020. Use a negative sign with your answer to indicate a cash outflow, if applicable.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Preparing the
Atlas Corp. reported the following amounts for the year ended December 31, 2020.
| Account | Dec 31, 2020 |
|---|---|
| Net income | $ 460,000 |
| Decrease in accounts payable | 17,600 |
| Increase in prepaid rent | 6,000 |
| 56,000 | |
| Increase in |
26,000 |
| Increase in interest payable | 2,400 |
Calculate net cash provided by operating activities for the year ended December 31, 2020.
Use a negative sign with your answer to indicate a
$Answer
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