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Category > Accounting Posted 15 Aug 2017 My Price 9.00

Nasreen Inc

E13-5 The current sections of Nasreen Inc.’s balance sheets at December 31, 2013 and 2014, are presented here. Nasreen’s net income for 2014 was $153,000. Depreciation expense was

 

 

2014

 

2013

Current assets Cash

 

$105,000

 

 

$  99,000

Accounts receivable

110,000

 

79,000

Inventory

158,000

 

172,000

Prepaid expenses

27,000

 

25,000

Total current assets

$400,000

 

$375,000

Current liabilities

Accrued expenses payable

 

$  15,000

 

 

$    9,000

Accounts payable

85,000

 

95,000

Total current liabilities

$100,000

 

$104,000

 
 

$24,000.

 

 

 

 

 

 

 

                              

 

 

 

 

                              

 

Instructions

Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2014, using the indirect method.

Answers

Maurice Tutor
(5)
Status NEW Posted 15 Aug 2017 08:08 AM My Price 9.00

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