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Category > Business & Finance Posted 18 Jun 2017 My Price 11.00

The net income reported on the income statement of Hunter Inc.

The net income reported on the income statement of Hunter Inc. for the current year was $150,000. Depreciation recorded on equipment and building amounted to $45,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows

 

 

End of Year

Beginning of Year

Cash

$ 42,875

$ 36,250

Trade receivables (net).

147,500

137,500

Inventories .

109,375

93,750

Prepaid expenses.....

9,250

11,875

Accounts payable (merchandise creditors)

57,000

40,000

Salaries payable .

7,625

10,625

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

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Status NEW Posted 18 Jun 2017 10:06 AM My Price 11.00

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