Question
Montego company's cash account has a balance of 14000 on January 1. Analysis of the company cash account during the year revealed the following information:
Montego company's cash account has a balance of 14000 on January 1. Analysis of the company cash account during the year revealed the following information:
Decrease in interest payable 1000
Depreciation expense 30900
Gain on retirement of bonds 32300
Increase in accounts receivable 40000
Loss on sale on plant assets 5900
Net Income 78000
The net cash provided (used) by operating activities is:
o 23500
o 59500
o 59700
o 41500
o 94300
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
IFRS 3rd edition
1118978080, 978-1119153726, 1119153727, 978-1119153702, 978-1118978085
