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net cash provided by operating activities

net cash provided by operating activities

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter16: Working Capital Policy And Short-term Financing
Section: Chapter Questions
Problem 3P
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What is the net cash provided by operating activities during the current year?
Debbie Company provided the following data: Cash Accounts receivable, net Merchandise inventory Prepaid expenses Long term investment Property, plant and equipment Accumulated depreciation Accounts payable Accrued expenses Dividend payable Note payable-long term debt Share capital Retained earnings Net credit sales Cost of goods sold Expenses Net income 2022 300,000 840,000 660,000 100,000 80,000 1,130,000 110,000 530,000 140,000 70,000 500,000 1,200,000 560,000 6,400,000 5,000,000 1,000,000 400,000 All accounts receivable and accounts payable relate to trade merchandise. Accounts payable are recorded net and always paid to take all of the discounts allowed. 2021 The proceeds from the note payable were used to finance a new store building. Share capital was sold to provide additional working capital. 200,000 580,000 420,000 50,000 600,000 50,000 440,000 130,000 900,000 330,000 4,000,000 3,200,000 520,000 280,000 The allowance for doubtful accounts at the end of 2022 was the same as at the end of 2021. No receivables were charged against the allowance during 2022.
Transcribed Image Text:Debbie Company provided the following data: Cash Accounts receivable, net Merchandise inventory Prepaid expenses Long term investment Property, plant and equipment Accumulated depreciation Accounts payable Accrued expenses Dividend payable Note payable-long term debt Share capital Retained earnings Net credit sales Cost of goods sold Expenses Net income 2022 300,000 840,000 660,000 100,000 80,000 1,130,000 110,000 530,000 140,000 70,000 500,000 1,200,000 560,000 6,400,000 5,000,000 1,000,000 400,000 All accounts receivable and accounts payable relate to trade merchandise. Accounts payable are recorded net and always paid to take all of the discounts allowed. 2021 The proceeds from the note payable were used to finance a new store building. Share capital was sold to provide additional working capital. 200,000 580,000 420,000 50,000 600,000 50,000 440,000 130,000 900,000 330,000 4,000,000 3,200,000 520,000 280,000 The allowance for doubtful accounts at the end of 2022 was the same as at the end of 2021. No receivables were charged against the allowance during 2022.
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