21. Skinner Butte, Inc. had the following information:Net income$40,000DepreciationIncrease in accounts receivable6,0002,000Decrease in prepaid rentIncrease in accrued liabilities(800)1,800Cash paid to purchase office equipment8,000What is Skinner Butte's net cash provided by operating activities?Multiple Choice$35,000$37,000$43,000$46,600

Net cash provided by Operating activities = Net Income + Depreciation expense - Increase in accounts…

$40,000 6,000 Net income Depreciation 2,000 (800) 1,800 8,000 Increase in accounts receivable Decrease in prepaid rent Increase in accrued liabilities Cash paid to purchase office equipment What is Skinner Butte's net cash provided by operating activities? Multiple Choice $35,000 $37,000 $43,000 $46,600 O o o O

$40,000 6,000 Net income Depreciation 2,000 (800) 1,800 8,000 Increase in accounts receivable Decrease in prepaid rent Increase in accrued liabilities Cash paid to purchase office equipment What is Skinner Butte's net cash provided by operating activities? Multiple Choice $35,000 $37,000 $43,000 $46,600 O o o O

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 13MCQ

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Similar questions

Smoltz Company reported the following information for the current year: cost of goods sold, $252,500; increase in inventory, $21,700; and increase in accounts payable, $12,200. What is the amount of cash paid to suppliers that Smoltz would report on its statement of cash flows under the direct method? a. $218,600 c. $262,000 b. $243,000 d. $286,400
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Classify each cash transaction between Operating (O), Investing (I), or Financing (F) activities using the following data: __Cash at the beginning of the year: $650,000 Cash Receipts from: __Bank (Interest on CD) $6,000 __Customers Sales $872,000 __Interest $33,000 __Dividends $3,600 Cash payments for: __Dividends $2,500 __Raw Materials $ 3,800 __Wages Expense $4,000 __Land $10,000 __Interest $4,000
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