Question
Goodfit Inc. reports net income, on the accrual basis, of $275,000. During the period, accounts receivable decreased from $66,000 to $35,000 and accounts payable decreased
Goodfit Inc. reports net income, on the accrual basis, of $275,000. During the period, accounts receivable decreased from $66,000 to $35,000 and accounts payable decreased from $52,000 to $40,000. Calculate the net cash provided (used) by operating activities
a.$232,000
b.$265,000
c.$318,000
d.$303,000
e.$294,000
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Accounting Tools for business decision making
Authors: kimmel, weygandt, kieso
4th Edition
978-0470117262, 9780470534786, 470117265, 470534788, 978-0470095461
