Kelsy Diner's net income for the year ended October 31, 2020 was $94, 000. Additional information is shown below. Interest expense on borrowing $6,900 Increase in accounts receivable $13,700 Decrease in prepaid expense $2,900 Decrease in accounts payable $3, 100 Dividends paid to common shareholders $16,000 Calculate the net cash provided (used) by operating activities using the indirect method.

Kelsy Diner's net income for the year ended October 31, 2020 was $94, 000. Additional information is shown below. Interest expense on borrowing $6,900 Increase in accounts receivable $13,700 Decrease in prepaid expense $2,900 Decrease in accounts payable $3, 100 Dividends paid to common shareholders $16,000 Calculate the net cash provided (used) by operating activities using the indirect method.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 13MCQ

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