Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 pts D Question 20 Depreciation expense totaled $17,000 for the year; accrued wages decreased $2,000, a new car was purchased for $42,000; accounts receivable

image text in transcribed
1 pts D Question 20 Depreciation expense totaled $17,000 for the year; accrued wages decreased $2,000, a new car was purchased for $42,000; accounts receivable decreased $9,000; payments on long term debt amounted to 15,000, accounts payable decreased $4,000; net income was $56,000 for the year, proceeds from the issuance of common stock were $45,000; dividends paid totaled $7,500; inventory increased $8,000; What was the net cash provided by operating activities? (don't indlude cents round to the nearest dollar) Question 21 1 pts The gross profit ratio is useful to the manager for which of the following purposes: t can be used to determine the selling price to set for an item it can be used to estimate the amount of inventory lost in a fire. t can be used to determine the amount avaslable fron a given amount of revenue to cover operating expenses MacBook Air

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions