The data given below are from the accounting records of the Kuhn Corporation: Net Income (accrual basis) $45,000 Depreciation Expense $9,000 Decrease in Accounts Payable $2,500 Decrease in Inventory $3,000 Increase in Bonds Payable $10,000 Sale of Common Stock for cash $30,000 Increase in Accounts Receivable $4,500 Based on this information, the net cash provided by operating activities using the indirect method would be: a) $55,000 b) $58,000 c) $50,000 d) $60,000
The data given below are from the accounting records of the Kuhn Corporation: Net Income (accrual basis) $45,000 Depreciation Expense $9,000 Decrease in Accounts Payable $2,500 Decrease in Inventory $3,000 Increase in Bonds Payable $10,000 Sale of Common Stock for cash $30,000 Increase in Accounts Receivable $4,500 Based on this information, the net cash provided by operating activities using the indirect method would be: a) $55,000 b) $58,000 c) $50,000 d) $60,000
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:The data given below are from the accounting records of the Kuhn Corporation:
Net Income (accrual basis)
$45,000
Depreciation Expense
$9,000
Decrease in Accounts Payable
$2,500
Decrease in Inventory
$3,000
Increase in Bonds Payable
$10,000
Sale of Common Stock for cash
$30,000
Increase in Accounts Receivable $4,500
Based on this information, the net cash provided by operating activities using the
indirect method would be:
a) $55,000
b) $58,000
c) $50,000
d) $60,000
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