TB MC Qu. 14-98 Krech Corporation's comparative.. Krech Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: $ 36,300 $ 53,000 29,000 102,00e 16,400 Cash and cash equivalents Accounts receivable 42,000 Inventory Prepaid expenses 89,000 12,200 179,500 200, 40e 638,000 Total current assets Property, plant, and equipment Less accumulated depreciation 618,000 278,100 339,900 319,000 319,000 $519,400 Net property, plant, and equipment Total assets $519,400 Liabilities and stockholders' equity: Current liabilities: $ 48,200 Accounts payable Accrued liabilities $ 31,000 108,eee 124,000 263,00e 117,000 380,000 74,000 Income taxes payable Total current liabilities 122,000 244, 200 142,000 386, 200 Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity 72,000 61,200 133,200 48,00e 91,400 139,400 Total liabilities and stockholders' equity $519,400 $519,400 The company's net income (loss) for the year was $(15,100) and its cash dividends were $15,100. It did not sell or retire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating activities. The company's net cash provided by (used in) operating activities is:
TB MC Qu. 14-98 Krech Corporation's comparative.. Krech Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: $ 36,300 $ 53,000 29,000 102,00e 16,400 Cash and cash equivalents Accounts receivable 42,000 Inventory Prepaid expenses 89,000 12,200 179,500 200, 40e 638,000 Total current assets Property, plant, and equipment Less accumulated depreciation 618,000 278,100 339,900 319,000 319,000 $519,400 Net property, plant, and equipment Total assets $519,400 Liabilities and stockholders' equity: Current liabilities: $ 48,200 Accounts payable Accrued liabilities $ 31,000 108,eee 124,000 263,00e 117,000 380,000 74,000 Income taxes payable Total current liabilities 122,000 244, 200 142,000 386, 200 Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total stockholders' equity 72,000 61,200 133,200 48,00e 91,400 139,400 Total liabilities and stockholders' equity $519,400 $519,400 The company's net income (loss) for the year was $(15,100) and its cash dividends were $15,100. It did not sell or retire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating activities. The company's net cash provided by (used in) operating activities is:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:TB MC Qu. 14-98 Krech Corporation's comparative ..
Krech Corporation's comparative balance sheet appears below:
Comparative Balance Sheet
Ending
Beginning
Balance
Balance
Assets:
Current assets:
$ 36,300
$ 53,000
29,000
Cash and cash equivalents
Accounts receivable
42, ее
Inventory
102,000
89,000
Prepaid expenses
16,400
12,200
Total current assets
200,400
179,500
Property, plant, and equipment
Less accumulated depreciation
638,000
618,000
319,000
278,100
Net property, plant, and equipment
319,000
339,900
Total assets
$519,400
$519,400
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable
Accrued liabilities
$ 48, 200
$ 31,000
74,000
108,000
Income taxes payable
122,000
124,000
Total current liabilities
244, 200
263,000
Bonds payable
142,000
117,000
Total liabilities
386, 200
380,000
Stockholders' equity:
Common stock
72,000
48,000
Retained earnings
61, 200
91,400
Total stockholders' equity
133, 200
139,400
$519,400
$519,400
Total liabilities and stockholders' equity
The company's net income (loss) for the year was $(15,100) and its cash dividends were $15,100. It did not sell or retire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided
by operating activities.
The company's net cash provided by (used in) operating activities is:
Transcribed Image Text:Multiple Choice
$10,700
$46,000
$2,800
$33,000
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