Net Income of Lucky Company Was $52,000

question 136

Multiple Choice

Net income of Lucky Company was $52,000.The accounting records reveal depreciation expense of $99,000 as well as increases in prepaid rent,salaries payable,and income taxes payable of $74,000,$15,700,and $14,000,respectively.What is the net cash flow provided (used) by operating activities?

• A)$254,700
• B)$47,300
• C)$195,300
• D)$150,700
• E)$106,700

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Definitions:

Interest

The feeling of wanting to learn more about something or to be involved in something; also refers to a charge for borrowing money.

Self-Conscious Emotions

Emotions that require self-awareness, especially consciousness and a sense of “me”; examples include jealousy, empathy, and embarrassment.

Cognitive Reversals

The ability to switch perspectives or understanding that actions can be undone mentally, an important part of cognitive development.

Primary Emotions

Primary emotions are basic emotions that are experienced universally across cultures, such as happiness, sadness, fear, and anger.