Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information is for Cleveland Company: 12/31/Year 3 12/31/Year 2 Accounts receivable $127,500 $180,000 Prepaid rent 46,000 20,200 Long-term investments 144,500 167,500 Dividends payable

The following information is for Cleveland Company:

12/31/Year 3 12/31/Year 2
Accounts receivable $127,500 $180,000
Prepaid rent 46,000 20,200
Long-term investments 144,500 167,500
Dividends payable 45,400 56,400
Salaries payable 161,000 171,800
Long-term notes payable 346,600 369,600

Additional data for the current year:

  1. (1) Sales on account for the period were $187,000.
  2. (2) Operating expenses for the period were $113,000.

Based on this limited information, what was the net cash flow from operating activities?

Multiple Choice

  • $36,600

  • $74,000

  • $89,000

  • $89,900

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Stacey Whitecotton, Robert Libby, Fred Phillips

3rd edition

77826485, 978-0077722074, 77722078, 978-0077826482

More Books

Students also viewed these Accounting questions

Question

A 5 6 7 8 9 10 and B 2 3 4 5 11 12 13 What is A U B 1 point

Answered: 1 week ago

Question

Describe effectiveness of reading at night?

Answered: 1 week ago

Question

find all matrices A (a) A = 13 (b) A + A = 213

Answered: 1 week ago