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The Net Income for the year was $275,000. Depreciation on equipment and Amortization on a patent were $40,000 and $9,000 respectively. Balances in the current assets and current liabilities were as follows (Ending and Beginning): Cash $50,000 $60,000, Acct. Rec. $112,000 $108,000, Inventory $105,000 $93,000, Prepaid Exp.$4,500 $6,500, Acct. Pay. $75,000 $89,000. What would be the Cash from Operating Activities?

The Net Income for the year was $275,000. Depreciation on equipment and Amortization on a patent were $40,000 and $9,000 respectively. Balances in the current assets and current liabilities were as follows (Ending and Beginning): Cash $50,000 $60,000, Acct. Rec. $112,000 $108,000, Inventory $105,000 $93,000, Prepaid Exp.$4,500 $6,500, Acct. Pay. $75,000 $89,000. What would be the Cash from Operating Activities?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The Net Income for the year was $275,000. Depreciation on equipment and Amortization on a patent were $40,000 and $9,000 respectively. Balances in the current assets and current liabilities were as follows (Ending and Beginning): Cash $50,000 $60,000, Acct. Rec. $112,000 $108,000, Inventory $105,000 $93,000, Prepaid Exp.$4,500 $6,500, Acct. Pay. $75,000 $89,000. What would be the Cash from Operating Activities?
Transcribed Image Text:The Net Income for the year was $275,000. Depreciation on equipment and Amortization on a patent were $40,000 and $9,000 respectively. Balances in the current assets and current liabilities were as follows (Ending and Beginning): Cash $50,000 $60,000, Acct. Rec. $112,000 $108,000, Inventory $105,000 $93,000, Prepaid Exp.$4,500 $6,500, Acct. Pay. $75,000 $89,000. What would be the Cash from Operating Activities?
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