Question
Mast Company reports net income of $340,000 for the year ended December 31. It also reports $111,900 depreciation expense and a $12,100 loss on the
Mast Company reports net income of $340,000 for the year ended December 31. It also reports $111,900 depreciation expense and a $12,100 loss on the sale of equipment. Its comparative balance sheet reveals a $48,600 increase in accounts receivable, a $12,300 decrease in prepaid expenses, a $18,700 increase in accounts payable, and a $15,300 decrease in wages payable. Calculate the net increase in cash for the year.
Multiple Choice
$310,100.
$340,700.
$321,800.
$431,100.
$231,800.
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Intermediate Accounting 2014 FASB Update
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
15th edition
978-1118938782, 111893878X, 978-1118985311, 1118985311, 978-1118562185, 1118562186, 978-1118147290
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