Ryan Company's income statement for the year ended December 31, 2015, reported net income of P360,000. The financial statements also disclosed the following information: Amortization - P 20,000; Depreciation - 60,000; Increase in accounts receivable - 140,000; Increase in inventory - 48,000; Decrease in accounts payable - 76,000; Increase in salaries payable - 28,000; Dividends paid - 120,000; Purchase of equipment - 150,000; Increase in long-term note payable - 300,000. Net cash provided by operating activities for 2015 should be reported as
Ryan Company's income statement for the year ended December 31, 2015, reported net income of P360,000. The financial statements also disclosed the following information: Amortization - P 20,000; Depreciation - 60,000; Increase in accounts receivable - 140,000; Increase in inventory - 48,000; Decrease in accounts payable - 76,000; Increase in salaries payable - 28,000; Dividends paid - 120,000; Purchase of equipment - 150,000; Increase in long-term note payable - 300,000. Net cash provided by operating activities for 2015 should be reported as
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Ryan Company's income statement for the year ended December 31, 2015, reported net income of P360,000. The financial statements also disclosed the following information: Amortization - P 20,000;
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