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Category > Accounting Posted 11 Aug 2017 My Price 11.00

Sanford Inc.

Prepare the operating activities section of the statement of cash flows for 2014. Use the indirect method.

 

 

The current sections of Sanford Inc.%u2019s balance sheets at December 31, 2013 and 2014, are presented here. Sanford%u2019s net income for 2014 was $153,000. Depreciation expense was $27,000.

Prepare the operating activities section%u2014indirect method.

 

2014

2013

Current assets

    

Cash

$105,000

$ 99,000

Accounts receivable

80,000

89,000

Inventory

168,000

172,000

Prepaid expenses

27,000

22,000

Total current assets

$380,000

$382,000

Current liabilities

    

Accrued expenses payable

$ 15,000

$%u2002%u20025,000

Accounts payable

85,000

92,000

Total current liabilities

$100,000

$ 97,000

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Maurice Tutor
(5)
Status NEW Posted 11 Aug 2017 09:08 PM My Price 11.00

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