For 2013, the income statement of Hylard Corporation had revenues of $152,000 and operating expenses of $78,000.

Question:

For 2013, the income statement of Hylard Corporation had revenues of $152,000 and operating expenses of $78,000. Accounts receivable and accounts payable at year-end were $60,000 and $23,000, respectively. At the beginning of the year, the balances were $39,000 for accounts receivable and $15,000 for accounts payable. Assume that accounts payable related to operating expenses. Ignore income taxes.
Instructions
Compute net cash provided by operating activities using the direct method.
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Accounting Tools For Business Decision Making

ISBN: 9781119791058

8th Edition

Authors: Paul D. Kimmel,  Jerry J. Weygandt,  Jill E. Mitchell

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