Question
Didericksen Companys income statement for the year ended December 31, 2015, reported net income of $360,000. The financial statements also disclosed the following information: Amortization
Didericksen Companys income statement for the year ended December 31, 2015, reported net income of $360,000. The financial statements also disclosed the following information: Amortization ..................... $20,000 Increase in salaries payable........ $ 28,000 Depreciation...................... 60,000 Dividends paid ........................... 120,000 Increase in accounts Purchase of equipment............... 150,000 receivable .................... 20,000 Increase in long-term note Increase in inventory......... 48,000 payable ................................. 300,000 Decrease in accounts payable ........................ 76,000 Net cash provided by operating activities for 2015 should be reported as: a. $84,000 b. $204,000 c. $234,000 d. $324,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started