Hunter Company Reported a Net Loss of $12,000 for the Year

question 35

Multiple Choice

Hunter Company reported a net loss of $12,000 for the year ended December 31, 2017. During the year, accounts receivable decreased $28,000, inventory increased $20,000, accounts payable increased by $30,000, and depreciation expense of $24,000 was recorded. During 2017, operating activities

• A)used net cash of $14,000.
• B)used net cash of $50,000.
• C)provided net cash of $50,000.
• D)provided net cash of $74,000.

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Definitions:

New England

A geographical region in the northeastern United States comprising six states: Maine, Vermont, New Hampshire, Massachusetts, Rhode Island, and Connecticut.

Selling Price

The amount at which a product or service is sold to customers.

Markup Percent

Defines the percentage increase applied to the cost price of goods to determine their selling price.

Motorcycle

A two-wheeled vehicle that is powered by an engine, typically with a capacity for one or two riders.