Justice Corporation's Net Income for the Current Year Was $510,000

question 21

Multiple Choice

Justice Corporation's net income for the current year was $510,000.Depreciation recorded on plant assets was $76,000.Accounts receivable and inventories increased by $40,000 and $16,000, respectively.Supplies and accounts payable decreased by $2,000 and $32,000, respectively.A $500,000 convertible bond was retired through the issuance of common stock.How much cash was provided by operating activities?

• A)$480,000.
• B)$500,000.
• C)$464,000.
• D)$672,000.

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Definitions:

Vandalism

The deliberate destruction or damage of public or private property.

Social Loafing

A group dynamic where individual contributions towards a goal diminish in comparison to efforts made when working alone.

Exert

To apply or bring to bear a force, influence, or quality, typically with effort.

Common Goal

A shared aim or objective by a group of people, which often motivates collective action toward its achievement.