Question
The net income for the year ended on June 30, 2020 for SC Corporation was $145,000. Additional data for the year is provided below. Loss
The net income for the year ended on June 30, 2020 for SC Corporation was $145,000. Additional data for the year is provided below.
Loss on retirement of debt $18,000
Purchase of property, plant & equipment $296,000
Depreciation of property, plant & equipment $14,700
Dividends declared $49,000
Decrease in inventory $25,000
Loss on sale of property $20,000
Issue of common shares $15,400
Increase or decrease in cash from operating activities = $ ?
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Ibrahim M. Aly, Donald E. Kieso
6th Canadian Edition
1119731828, 9781119731825
