Question
The net income for the year ended on May 31, 2013 for TC Corporation was $104,000. Additional data for the year is provided below: Purchase
The net income for the year ended on May 31, 2013 for TC Corporation was $104,000. Additional data for the year is provided below:
| Purchase of property, plant & equipment | $252,000 |
| Depreciation of equipment | $18,700 |
| Dividends declared | $54,000 |
| Net decrease in accounts receivable | $31,000 |
| Loss on sale of equipment | $20,000 |
Calculate the increase or decrease in cash from operating activities.
Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash. Increase or decrease in cash from operating activities = $Answer
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Audit And Accounting Guide State And Local Governments
Authors: AICPA
1st Edition
1945498587, 978-1945498589
