Alvez Reports Net Income of $305,000 for the Year Ended

question 26

Multiple Choice

Alvez reports net income of $305,000 for the year ended December 31. It also reports $93,700 depreciation expense and a $10,000 loss on the sale of equipment. Its comparative balance sheet reveals a $40,200 increase in accounts receivable, a $10,200 decrease in prepaid expenses, a $15,200 increase in accounts payable, a $12,500 decrease in wages payable, a $75,000 increase in equipment, and a $100,000 decrease in notes payable. Calculate the net increase in cash for the year.

• A) $281,400.
• B) $381,400.
• C) $206,400.
• D) $406,400.
• E) $216,400.

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Definitions:

Rural Life

A lifestyle characteristic of areas situated outside towns and cities, often associated with farming and countryside living.

Face-to-Face Interaction

Direct communication between two or more people, physically present, with eye contact usually involved.

Urban Space

Areas within a city characterized by their development for certain purposes, such as residential, commercial, or recreational.

New Urban Sociology

An approach within sociology that examines urban spaces’ social structures, processes, and changes, focusing on the impact of urban environments on human behaviors and relationships.