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Wise Photography reported net income of $115,600 for 2020. Included in the income statement were depreciation expense of $3.800 amortizationexpense of $2.700, and a gain on disposal of plant assets of $4,100. Wise's comparative balance sheets show the following balances. 12/31/19 12/31/20 Accounts receivable $26,700 $21,500 Accounts payable 6,500 8,900 Calculate net cash provided by operating activities for Wise Photography. (Show amounts that decrease cash flow with either a-sign eg -15,000 or in parenthesis es (15,000))

Wise Photography reported net income of $115,600 for 2020. Included in the income statement were depreciation expense of $3.800 amortizationexpense of $2.700, and a gain on disposal of plant assets of $4,100. Wise's comparative balance sheets show the following balances. 12/31/19 12/31/20 Accounts receivable $26,700 $21,500 Accounts payable 6,500 8,900 Calculate net cash provided by operating activities for Wise Photography. (Show amounts that decrease cash flow with either a-sign eg -15,000 or in parenthesis es (15,000))

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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Wise Photography reported net income of $115,600 for 2020. Included in the income statement were depreciation expense of $3,800 amortization expense of $2.700, and a gain on disposal of plant assets of $4,100. Wise's comparative balance sheets show the following balances. 12/31/19 12/31/20 Accounts receivable $26,700 $21,500 Accounts payable 6,500 8,900 Calculate net cash provided by operating activities for Wise Photography. (Show amounts that decrease cash flow with either a-signes -15,000 or in parenthesis es (15,000).)
Transcribed Image Text:Wise Photography reported net income of $115,600 for 2020. Included in the income statement were depreciation expense of $3,800 amortization expense of $2.700, and a gain on disposal of plant assets of $4,100. Wise's comparative balance sheets show the following balances. 12/31/19 12/31/20 Accounts receivable $26,700 $21,500 Accounts payable 6,500 8,900 Calculate net cash provided by operating activities for Wise Photography. (Show amounts that decrease cash flow with either a-signes -15,000 or in parenthesis es (15,000).)
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