1) The following information is available from Ram Corp.'s accounting records for the year ended December 31, 2022: Cash paid to suppliers and employee Cash dividends paid 1,020,000 60,000 Cash received from customers 1,740,000 Rent received 20,000 Taxes paid 220,000 Net cash flow provided by operating activities for 2022 was A. 440,000 B. 460,000 C. 500,000 D. 520,000

College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter12A: The Statement Of Cash Flows
Section: Chapter Questions
Problem 4P
icon
Related questions
Question

I was told that the answer was 520,000. Is it true? If so, please help me and explain how it was solved. Thank you!

Operating Activities - Direct Method
1) The following information is available from Ram Corp.'s accounting records for the year ended December 31, 2022:
Cash paid to suppliers and employee
Cash dividends paid
1,020,000
60,000
Cash received from customers
1,740,000
20,000
Rent received
Taxes paid
220,000
Net cash flow provided by operating activities for 2022 was
A. 440,000
B. 460,000
C. 500,000
D. 520,000
Transcribed Image Text:Operating Activities - Direct Method 1) The following information is available from Ram Corp.'s accounting records for the year ended December 31, 2022: Cash paid to suppliers and employee Cash dividends paid 1,020,000 60,000 Cash received from customers 1,740,000 20,000 Rent received Taxes paid 220,000 Net cash flow provided by operating activities for 2022 was A. 440,000 B. 460,000 C. 500,000 D. 520,000
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Techniques of Time Value Of Money
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.
Similar questions
Recommended textbooks for you
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning