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Category > Business & Finance Posted 17 May 2017 My Price 6.00

Anne Droid Inc. Income Statement

P13-5B The income statement of Anne Droid Inc. reported the following condensed information.

Anne Droid Inc. Income Statement

For the Year Ended December 31, 2014

 

Sales revenue

$551,000

Operating expenses

400,000

Income from operations

151,000

Income tax expense

36,000

Net income

$115,000

Anne Droid’s balance sheet contained these comparative data at December 31.

 

 

  2014           

  2013

Accounts receivable

$55,000

$70,000

Accounts payable

40,000

51,000

Income taxes payable

12,000

4,000

Anne Droid has no depreciable assets. Accounts payable pertain to operating expenses.

Instructions

Prepare the operating activities section of the statement of cash flows using the indirect method.

 

Answers

Alpha Geek
(8)
Status NEW Posted 17 May 2017 09:05 AM My Price 6.00

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file 1495013285-Answer.docx preview (127 words )
P-----------13------------5BÂ----------- Th-----------e i-----------nco-----------me -----------sta-----------tem-----------ent----------- of----------- An-----------ne -----------Dro-----------id -----------Inc-----------. r-----------epo-----------rte-----------d t-----------he -----------fol-----------low-----------ing----------- co-----------nde-----------nse-----------d i-----------nfo-----------rma-----------tio-----------n. ----------- An-----------ne -----------Dro-----------id -----------Inc-----------. I-----------nco-----------me -----------Sta-----------tem-----------ent----------- F-----------or -----------the----------- Ye-----------ar -----------End-----------ed -----------Dec-----------emb-----------er -----------31,----------- 20-----------14 -----------  ----------- S-----------ale-----------s r-----------eve-----------nue----------- $5-----------51,-----------000----------- O-----------per-----------ati-----------ng -----------exp-----------ens-----------es -----------400-----------,00-----------0 -----------Inc-----------ome----------- fr-----------om -----------ope-----------rat-----------ion-----------s 1-----------51,-----------000----------- I-----------nco-----------me -----------tax----------- ex-----------pen-----------se -----------36,-----------000----------- N-----------et -----------inc-----------ome----------- $1-----------15,-----------000----------- A-----------nne----------- Dr-----------oid-----------’-----------s b-----------ala-----------nce----------- sh-----------eet----------- co-----------nta-----------ine-----------d t-----------hes-----------e c-----------omp-----------ara-----------tiv-----------e d-----------ata----------- at----------- De-----------cem-----------ber----------- 31-----------. -----------  -----------  -----------  ----------- 2-----------014-----------  ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â -----------  ----------- 2-----------013----------- A-----------cco-----------unt-----------s
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