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Lino Company’s worksheet for the preparation of its 20X1 statement of cash flows included the following information:   Dec31   Jan 1   Accounts receivable 29,000 $ 23,000   Allowance for uncollectible accounts 1,000   800   Prepaid rent expense 8,200   12,400   Accounts payable 22,400   19,400     Lino’s 20X1 net income is $150,000.   Required: What amount should Lino include as net cash that is provided by operating activities in the statement of cash flows?

Lino Company’s worksheet for the preparation of its 20X1 statement of cash flows included the following information:   Dec31   Jan 1   Accounts receivable 29,000 $ 23,000   Allowance for uncollectible accounts 1,000   800   Prepaid rent expense 8,200   12,400   Accounts payable 22,400   19,400     Lino’s 20X1 net income is $150,000.   Required: What amount should Lino include as net cash that is provided by operating activities in the statement of cash flows?

Cornerstones of Financial Accounting
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 23CE: Cash Receipts from Customers Singleton Inc. had accounts receivable of $22,150 at January 1, 2019,...
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Lino Company’s worksheet for the preparation of its 20X1 statement of cash flows included the following information:

  Dec31   Jan 1  
Accounts receivable 29,000 $ 23,000  
Allowance for uncollectible accounts 1,000   800  
Prepaid rent expense 8,200   12,400  
Accounts payable 22,400   19,400  

 

Lino’s 20X1 net income is $150,000.

 

Required:

What amount should Lino include as net cash that is provided by operating activities in the statement of cash flows?

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