Calculate net cash provided by operating activities for Josh”s PhotoPlus.


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Calculate net cash provided by operating activities for Josh”s PhotoPlus. 1 answer below » Josh”s PhotoPlus reported net income of $73,000 for 2014. Included in the income statement were depreciation expense of $7,000 and a gain on disposal of equipment of $2,500. Josh”s comparative balance sheets show the following balances. Add noncash charges such as depreciation back to net income to compute net cash provided by operating activities. Deduct from net income gains on the disposal of plant assets, or add losses back to net income, to compute net cash provided by operating activities. Use changes in noncash current asset and current liability accounts to compute net cash provided View complete question » Josh”s PhotoPlus reported net income of $73,000 for 2014. Included in the income statement were depreciation expense of $7,000 and a gain on disposal of equipment of $2,500. Josh”s comparative balance sheets show the following balances. Add noncash charges such as depreciation back to net income to compute net cash provided by operating activities. Deduct from net income gains on the disposal of plant assets, or add losses back to net income, to compute net cash provided by operating activities. Use changes in noncash current asset and current liability accounts to compute net cash provided by operating activities. 12/31/13 12/31/14 Accounts receivable $17,000 $21,000 Accounts payable 6,000 2,200 Calculate net cash provided by operating activities for Josh”s PhotoPlus. View less » Jun 11 2014 04:16 PM

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