Mississippi Products Co. had the following positive cash flows during the current year: received cash from customers of $750,000; received bank loans of $35,000; and received cash from the sale of common stock of $145,000. During the same year, cash was paid out to purchase inventory for $345,000, to employees for $230,000, and for the purchase of plant assets of $217,000. Calculate the amount of cash provided by or used for operating activities by the direct method. Net cash provided by operating activities
Mississippi Products Co. had the following positive cash flows during the current year: received cash from customers of $750,000; received bank loans of $35,000; and received cash from the sale of common stock of $145,000. During the same year, cash was paid out to purchase inventory for $345,000, to employees for $230,000, and for the purchase of plant assets of $217,000. Calculate the amount of cash provided by or used for operating activities by the direct method. Net cash provided by operating activities
Chapter5: Operating Activities: Purchases And Cash Payments
Section: Chapter Questions
Problem 2.1C
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Mississippi Products Co. had the following positive cash flows during the current year: received cash from customers of
$750,000; received bank loans of $35,000; and received cash from the sale of common stock of $145,000. During the
same year, cash was paid out to purchase inventory for $345,000, to employees for $230,000, and for the purchase of
plant assets of $217,000.
Calculate the amount of cash provided by or used for operating activities by the direct method.
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