Alvez reports net income of $355,000 for the year ended december 31. it also reports $119,700 depreciation expense and a $13,000 loss on the sale of equipment. its comparative balance sheet reveals a $52,200 increase in accounts receivable, a $13,200 decrease in prepaid expenses, a $20,200 increase in accounts payable, a $16,500 decrease in wages payable, a $97,000 increase in equipment, and a $130,000 decrease in notes payable. calculate the net increase in cash for the year.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Alvez reports net income of $355,000 for the year ended december 31. it also reports $119,700 depreciation expense and a $13,000 loss on ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
A firm's organizational culture refers to the formal organizational structure of the company, the control systems and incentives in place, and the human resources component.
Answers (1)
Which county office has responsibility for determining the value of real estate?
Answers (1)
A broker desires to keep an escrow account in an interest bearing account. Would this be legal?
Answers (1)
The market for beef is in long-run equilibrium at a price of $3.25 per pound. the announcement that mad cow disease has been discovered in the united states reduces the demand for beef sharply, and the price falls to $2.00/pound.
Answers (1)
Elba Company leased machinery to Conecuh Company on January 1, 2017, for a ten-year period expiring December 31, 2026. Equal annual payments under the lease are $300,000 and are due on January 1 of each year.
Answers (1)
New Questions in Business
What is the difference between marginal cost and marginal revenue? Marginal cost is the money earned from selling one more unit of a good.
Answers (1)
The standard number of hours that should have been worked for the output attained is 10,000 direct labor hours and the actual number of direct labor hours worked was 10,500.
Answers (1)
Indicate what components of GDP (if any) each of the following transactions would affect. Check all that apply. - You purchase a box of Belgium chocolate - Honda expands its factory in Ohio. - Your parents buy a new house from a local builder.
Answers (1)
Which of the following best represents the pricing behavior of firms in a monopolistically competitive industry? A) Unykdrugs, Inc.
Answers (1)
Ahmad just put some money into a CD that pays 11.3% interest, compounded semiannually. According to the rule of 72, in approximately how many years will he have 4 times the amount of money that he has now?
Answers (1)