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…
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…
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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…
Expert Solution
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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