Blossom Company reports the following information: Net income $ 539000 Depreciation expense 153000 Increase in accounts receivable 61000 Blossom should report cash provided by operating activities of $ 753000. $ 447000. $ 631000. $ 325000.

Blossom Company reports the following information: Net income $ 539000 Depreciation expense 153000 Increase in accounts receivable 61000 Blossom should report cash provided by operating activities of $ 753000. $ 447000. $ 631000. $ 325000.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12MCQ: Smoltz Company reported the following information for the current year: cost of goods sold,...

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Question

Blossom Company reports the following information:

Net income			$ 539000
Depreciation expense			153000
Increase in accounts receivable			61000

Blossom should report cash provided by operating activities of

$ 753000.

$ 447000.

$ 631000.

$ 325000.

Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video

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