Concord Company reported net income of 53000 for the year Du

Concord Company reported net income of $53000 for the year. During the year, accounts receivable decreased by $7900, accounts payable increased by $4500 and depreciation expense of $5300 was recorded. Net cash provided by operating activities for the year is

Solution

Answer:

Net cash provided by operating activities for the year is =$70,700

Working notes for the answer:

.

Particular

Amount $

Amount $

Cash flow from operation

Net income

53000

Depreciation

5300

Decrease in account receivable

7900

Increase in account Payable

4500

17700

Cash flow from operating activity

70700