Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 1 Day Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 22 Jul 2017 My Price 9.00

operating activities

Use the following information to determine this company’s cash flows from operating activities using the indirect method.

LING COMPANY

Selected Balance Sheet Information

December 31,2011 and 2010

 

2011

2010

Current assets

 

 

Cash

$338,600

$107,200

Accounts receivable

100,000

128,000

Inventory Current liabilities

240,000

216,400

Accounts payable Income taxes payable

121,600 8,200

102,800 8,800

 

LING COMAPANY

Income Statement

For Year Ended December 31,2011

Sales

 

$2,060,000

Cost of goods sold

 

1,326,400

Gross profit

 

733,600

Operating expenses

 

 

Depreciation expense

$144,000

 

Other expenses

486,000

630,000

Income before taxes

 

103,600

Income taxes expense

 

30,800

Net income

 

$ 72,800

Answers

Maurice Tutor
(5)
Status NEW Posted 22 Jul 2017 10:07 PM My Price 9.00

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