Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Jul 2017 My Price 5.00

Frizz Hair Salon

Frizz Hair Salon had net income of $93,000 for the year just ended. Frizz collected the following additional information to prepare its statement of cash flows for the year:

Increase in accounts receivable

$10,000

Decrease in accounts payable

$2,000

Increase in retained earnings

$31,000

Cash received from sale of equipment

$18,000

Loss on sale of equipment

$5,000

Depreciation expense

$16,000

Frizz uses the indirect method to prepare its statement of cash flows. What is Frizz"s net cash provided (used) by operating activities?

A) $92,000

B) $102,000

C) $120,000

D) $126,000

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Jul 2017 12:07 AM My Price 5.00

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