Business, 02.08.2021 18:50, haileyhale5
The net income reported on the income statement for the current year was $210,000. Depreciation recorded on equipment and a building amount to $62,500 for the year. Balances of the current asset and current liabilities accounts at the beginning and end of the year are as follows:
End of Year Beginning of Year
Cash $56,000 $59,500
Accounts receivable (net) 71,000 73,400
Inventories 140,000 126,500
Prepaid expenses 7,800 8,400
Accounts payable (merchandise creditors) 62,600 66,400
Salaries payable 9,000 8,250
Required:
a. Prepare the Cash flows for Operating Activities section of the statement of cash flows, using the indirect method.
b. If the direct method had been used, would the net cash flow from operating activities have been the same? Explain.
Answers: 3
Business, 22.06.2019 10:00, lm942747
What is the difference between an "i" statement and a "you" statement? a. the "i" statement is non-confrontational b. the "you" statement is non-confrontational c. the "i" statement is argumentative d. the "you" statement is neutral in tone select the best answer from the choices provided
Answers: 1
Business, 23.06.2019 20:00, theannakittler7327
If overnight delivery makes you think of fedex, what marketing strategy caused that association in your mind? direct mail tv advertising branding connectivity
Answers: 1
The net income reported on the income statement for the current year was $210,000. Depreciation reco...
History, 07.01.2020 23:31
Arts, 07.01.2020 23:31
Mathematics, 07.01.2020 23:31
History, 07.01.2020 23:31
Mathematics, 07.01.2020 23:31