Wilton Company reported net income of 80000 for the year. During the year, accounts receivable decreased by 7000, accounts payable increased by 3000 and depreciation expense of 5000 was recorded. Net cash provided by operating activities for the year is: A. 70000 B. 75000 C. 79000 D. 95000 E. None of the above
Wilton Company reported net income of 80000 for the year. During the year, accounts receivable decreased by 7000, accounts payable increased by 3000 and depreciation expense of 5000 was recorded. Net cash provided by operating activities for the year is: A. 70000 B. 75000 C. 79000 D. 95000 E. None of the above
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
In operating activities, do we add up the numbers every time?
I have noticed that in finanacing and investing activities we substruct the loses. But in operating activities it is always adding up the numbers. Is that correct?
Transcribed Image Text:Wilton Company reported net income of 80000 for the year. During the year, accounts
receivable decreased by 7000, accounts payable increased by 3000 and depreciation expense
of 5000 was recorded. Net cash provided by operating activities for the year is:
A. 70000
B. 75000
C. 79000
D. 95000
E. None of the above
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
In operating activities, do we add up the numbers every time?
I have noticed that in finanacing and investing activities we substruct the loses. But in operating activities it is always adding up the numbers. Is that correct?
Solution
by Bartleby ExpertKnowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education