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Problem 17-20 (IAA) Mahogany Company had the following account balances: December 31 January 1 Accounts payable Inventory Accounte receivable 500,000 300,000 800,000 700,000 450,000 750,000 The entity provided the following income statement information for the current year: Revenue Cost of goods sold Other expenses Depreciation expense Loss on sale of equipment 9,800,000 (4,000,000) (1,300,000) (1,000,000) ( 100,000) 3,400,000 Net income What is the net cash provided by operating activities? a. 4,500,000 b. 4,400,000 © 4,600,000 d. 4,300,000 Problem 17-21 (IAA) Champaca Company provided the following information: 750,000 4,500,000 2,750,000 300,000 500,000 200,000 Net income for the current year Sales revenue Cost of goods sold, except depreciation nterest expense Depreciation expense mortization of intangible asset January 1 December 31 ccounts receivable aventory ccounts payable terest payable 220,000 350,000 475,000 100,000 150,000 400,000 520,000 85,000 hat is the net cash provided by operating activities? 1,500,000 1,515,000 1,450,000 2,020,000

Problem 17-20 (IAA) Mahogany Company had the following account balances: December 31 January 1 Accounts payable Inventory Accounte receivable 500,000 300,000 800,000 700,000 450,000 750,000 The entity provided the following income statement information for the current year: Revenue Cost of goods sold Other expenses Depreciation expense Loss on sale of equipment 9,800,000 (4,000,000) (1,300,000) (1,000,000) ( 100,000) 3,400,000 Net income What is the net cash provided by operating activities? a. 4,500,000 b. 4,400,000 © 4,600,000 d. 4,300,000 Problem 17-21 (IAA) Champaca Company provided the following information: 750,000 4,500,000 2,750,000 300,000 500,000 200,000 Net income for the current year Sales revenue Cost of goods sold, except depreciation nterest expense Depreciation expense mortization of intangible asset January 1 December 31 ccounts receivable aventory ccounts payable terest payable 220,000 350,000 475,000 100,000 150,000 400,000 520,000 85,000 hat is the net cash provided by operating activities? 1,500,000 1,515,000 1,450,000 2,020,000

FINANCIAL ACCOUNTING
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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Problem 17-20 & 17-21 answer?
The entity provided the following income statement Mahogany Company had the following account balane 700,000 450,000 750,000 Problem 17-20 (IAA) December 31 January1 CT 500,000 300,000 800,000 Accounts payable Inventory Accounts receivable information for the current year: Revenue Cost of goods sold Other expenses Depreciation expense Loss on sale of equipment 9,800,000 (4,000,000) (1,300,000) (1,000,000) (100,000) 3,400,000 Net income What is the net cash provided by operating activities? a. 4,500,000 b. 4,400,000 © 4,600,000 d. 4,300,000 Problem 17-21 (IAA) Net income for the current year Sales revenue Cost of goods sold, except depreciation Interest expense Depreciation expense Amortization of intangible asset Champaca Company provided the following information: 750,000 4,500,000 2,750,000 300,000 500,000 200,000 January 1 December 31 Accounts receivable Inventory Accounts payable Interest payable 220,000 350,000 475,000 100,000 150,000 400,000 520,000 85,000 What is the net cash provided by operating activities? a. 1,500,000 b. 1,515,000 c. 1,450,000 d. 2,020,000 528
Transcribed Image Text:The entity provided the following income statement Mahogany Company had the following account balane 700,000 450,000 750,000 Problem 17-20 (IAA) December 31 January1 CT 500,000 300,000 800,000 Accounts payable Inventory Accounts receivable information for the current year: Revenue Cost of goods sold Other expenses Depreciation expense Loss on sale of equipment 9,800,000 (4,000,000) (1,300,000) (1,000,000) (100,000) 3,400,000 Net income What is the net cash provided by operating activities? a. 4,500,000 b. 4,400,000 © 4,600,000 d. 4,300,000 Problem 17-21 (IAA) Net income for the current year Sales revenue Cost of goods sold, except depreciation Interest expense Depreciation expense Amortization of intangible asset Champaca Company provided the following information: 750,000 4,500,000 2,750,000 300,000 500,000 200,000 January 1 December 31 Accounts receivable Inventory Accounts payable Interest payable 220,000 350,000 475,000 100,000 150,000 400,000 520,000 85,000 What is the net cash provided by operating activities? a. 1,500,000 b. 1,515,000 c. 1,450,000 d. 2,020,000 528
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