In preparing a company’s statement of cash flows for the mos…
In preparing a company’s statement of cash flows for the most recent year using the indirect method, the following information is available: Net income for the year was $ 52,000 Accounts payable decreased by 18,000 Accounts receivable increased by 25,000 Inventories increased by 5,000 Cash dividends paid were 14,000 Depreciation expense was 20,000 Net cash provided by operating activities was:
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Refer to the following selected financial information from Barstool Company. Compute the company’s days’ sales uncollected for Year 2. (Use 365 days a year.) Year 2 Year 1 Accounts receivable, net 86,500 82,750 Net sales 723,000 693,000
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