The Net Income for the year was $320,000. Depreciation expense on buildings and Amortization on a trademark were $55,000 and $12,000 respectively. The following balances were reported for current assets and current liabilities (Ending, Beginning): Cash $70,000 $80,000, Accounts Receivable $145,000 $135,000, Inventory $125,000 $115,000, Prepaid Expenses $8,000 $10,000, Accounts Payable $95,000 $105,000. Calculate the Cash from Operating Activities.
The Net Income for the year was $320,000. Depreciation expense on buildings and Amortization on a trademark were $55,000 and $12,000 respectively. The following balances were reported for current assets and current liabilities (Ending, Beginning): Cash $70,000 $80,000, Accounts Receivable $145,000 $135,000, Inventory $125,000 $115,000, Prepaid Expenses $8,000 $10,000, Accounts Payable $95,000 $105,000. Calculate the Cash from Operating Activities.
Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion
Section: Chapter Questions
Problem 30CE
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Calculate the cash from operating activities

Transcribed Image Text:The Net Income for the year was $320,000. Depreciation expense on buildings
and Amortization on a trademark were $55,000 and $12,000 respectively. The
following balances were reported for current assets and current liabilities
(Ending, Beginning): Cash $70,000 $80,000, Accounts Receivable $145,000
$135,000, Inventory $125,000 $115,000, Prepaid Expenses $8,000 $10,000,
Accounts Payable $95,000 $105,000. Calculate the Cash from Operating
Activities.
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