Kraco Corporation reported 2010 net income of $450,000,including the effects of depreciation expense of $60,000,and amortization expense on a patent of $10,000.Also,cash of $50,000 was borrowed on a 5-year note payable.Based on this data,total cash inflow from operating activities using the indirect method for 2010 was:
A) $570,000
B) $520,000
C) $470,000
D) $440,000

Question

Kraco Corporation reported 2010 net income of $450,000,including the effects of depreciation expense of $60,000,and amortization expense on a patent of $10,000.Also,cash of $50,000 was borrowed on a 5-year note payable.Based on this data,total cash inflow from operating activities using the indirect method for 2010 was: 
A) $570,000
B) $520,000
C) $470,000
D) $440,000

Quizplus · Accepted Answer

The Answer of Kraco Corporation reported 2010 net income of $450,000,including the effects of depreciation expense of $60,000,and amortization expense on a patent of $10,000.Also,cash of $50,000 was borrowed on a 5-year note payable.Based on this data,total cash inflow from operating activities using the indirect method for 2010 was: 
A) $570,000
B) $520,000
C) $470,000
D) $440,000

Kraco Corporation Reported 2010 Net Income of $450,000,including the Effects