Rogers company reported net income of $35,000 for the year. During the year, accounts receivable increased by 7000, accounts payable decreased by 3000, and depreciation expense of 8000 was recorded. Net cash provided by operating activities for the year is…

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Rogers company reported net income of $35,000 for the year. During the year, accounts receivable increased by 7000, accounts payable decreased by 3000, and depreciation expense of 8000 was recorded. Net cash provided by operating activities for the year is…
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Step 1

         Net income                                  $ 35000

Add: Depreciation                                 $ 8000

Less: Increase in Accounts receivable  ($ 7000)

Add: Decrease in Accounts payables    $ 3000

Net cash provided by operating 

activities for the year is                         $ 39000

 

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