Net income was $62,700; accounts receivable decreased by $15,750; inventory increased by $7,450; proceeds from the issuance of long-term debt were $20,500; accounts payable decreased by $5,350; equipment purchases were $67,500; depreciation and amortization expense was $27,000. (Amounts to be deducted should be indicated with a minus sign.) Calculate the net cash provided (used) by operating activities for the period.
Net income was $62,700; accounts receivable decreased by $15,750; inventory increased by $7,450; proceeds from the issuance of long-term debt were $20,500; accounts payable decreased by $5,350; equipment purchases were $67,500; depreciation and amortization expense was $27,000. (Amounts to be deducted should be indicated with a minus sign.) Calculate the net cash provided (used) by operating activities for the period.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 5MC
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Net income was $62,700; accounts receivable decreased by $15,750; inventory increased by $7,450; proceeds from the issuance of long-term debt were $20,500; accounts payable decreased by $5,350; equipment purchases were $67,500;
Calculate the net cash provided (used) by operating activities for the period.
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