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Problem 17-20 (IAA) Mahogany Company had the following account balances: December 31 January 1 Accounts payable Inventory Accounte receivable 500,000 300,000 800,000 700,000 450,000 750,000 The entity provided the following income statement information for the current year: Revenue Cost of goods sold Other expenses Depreciation expense Loss on sale of equipment 9,800,000 (4,000,000) (1,300,000) (1,000,000) ( 100,000) 3,400,000 Net income What is the net cash provided by operating activities? a. 4,500,000 b. 4,400,000 © 4,600,000 d. 4,300,000 Problem 17-21 (IAA) Champaca Company provided the following information: 750,000 4,500,000 2,750,000 300,000 500,000 200,000 Net income for the current year Sales revenue Cost of goods sold, except depreciation nterest expense Depreciation expense mortization of intangible asset January 1 December 31 ccounts receivable aventory ccounts payable terest payable 220,000 350,000 475,000 100,000 150,000 400,000 520,000 85,000 hat is the net cash provided by operating activities? 1,500,000 1,515,000 1,450,000 2,020,000

Problem 17-20 (IAA) Mahogany Company had the following account balances: December 31 January 1 Accounts payable Inventory Accounte receivable 500,000 300,000 800,000 700,000 450,000 750,000 The entity provided the following income statement information for the current year: Revenue Cost of goods sold Other expenses Depreciation expense Loss on sale of equipment 9,800,000 (4,000,000) (1,300,000) (1,000,000) ( 100,000) 3,400,000 Net income What is the net cash provided by operating activities? a. 4,500,000 b. 4,400,000 © 4,600,000 d. 4,300,000 Problem 17-21 (IAA) Champaca Company provided the following information: 750,000 4,500,000 2,750,000 300,000 500,000 200,000 Net income for the current year Sales revenue Cost of goods sold, except depreciation nterest expense Depreciation expense mortization of intangible asset January 1 December 31 ccounts receivable aventory ccounts payable terest payable 220,000 350,000 475,000 100,000 150,000 400,000 520,000 85,000 hat is the net cash provided by operating activities? 1,500,000 1,515,000 1,450,000 2,020,000

Intermediate Accounting: Reporting And Analysis
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
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12GI: Consider each of the following independent situations. Should a company report the goods in its...
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Problem 17-20 & 17-21 answer?
The entity provided the following income statement Mahogany Company had the following account balane 700,000 450,000 750,000 Problem 17-20 (IAA) December 31 January1 CT 500,000 300,000 800,000 Accounts payable Inventory Accounts receivable information for the current year: Revenue Cost of goods sold Other expenses Depreciation expense Loss on sale of equipment 9,800,000 (4,000,000) (1,300,000) (1,000,000) (100,000) 3,400,000 Net income What is the net cash provided by operating activities? a. 4,500,000 b. 4,400,000 © 4,600,000 d. 4,300,000 Problem 17-21 (IAA) Net income for the current year Sales revenue Cost of goods sold, except depreciation Interest expense Depreciation expense Amortization of intangible asset Champaca Company provided the following information: 750,000 4,500,000 2,750,000 300,000 500,000 200,000 January 1 December 31 Accounts receivable Inventory Accounts payable Interest payable 220,000 350,000 475,000 100,000 150,000 400,000 520,000 85,000 What is the net cash provided by operating activities? a. 1,500,000 b. 1,515,000 c. 1,450,000 d. 2,020,000 528
Transcribed Image Text:The entity provided the following income statement Mahogany Company had the following account balane 700,000 450,000 750,000 Problem 17-20 (IAA) December 31 January1 CT 500,000 300,000 800,000 Accounts payable Inventory Accounts receivable information for the current year: Revenue Cost of goods sold Other expenses Depreciation expense Loss on sale of equipment 9,800,000 (4,000,000) (1,300,000) (1,000,000) (100,000) 3,400,000 Net income What is the net cash provided by operating activities? a. 4,500,000 b. 4,400,000 © 4,600,000 d. 4,300,000 Problem 17-21 (IAA) Net income for the current year Sales revenue Cost of goods sold, except depreciation Interest expense Depreciation expense Amortization of intangible asset Champaca Company provided the following information: 750,000 4,500,000 2,750,000 300,000 500,000 200,000 January 1 December 31 Accounts receivable Inventory Accounts payable Interest payable 220,000 350,000 475,000 100,000 150,000 400,000 520,000 85,000 What is the net cash provided by operating activities? a. 1,500,000 b. 1,515,000 c. 1,450,000 d. 2,020,000 528
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