Question
oss Company, Inc. prepared the tabulation below at December 31, 2010. NetIncome......................................................................................$275,000 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation
oss Company, Inc. prepared the tabulation below at December 31, 2010.
Net\Income......................................................................................$275,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense, $25,000.
Decrease in accounts receivable, $55,000.
Increase in inventory, $12,000
Decrease in accounts payable, $6,600.
Increase in income taxes payable, $1,500
Loss on sale of land, $5,000.
Gain on sale of building $25,500
Decrease in dividends payable, $6,000. ..............................................._______
Prepaid rent decreased by $5,000. ..............................................._______
Office supplies increased $ 7,000. . ..............................................._______
Common stock increased by $ 12,000. ..............................................._______
Instructions
Compute total of cash provided or used by Operating Activities?.
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