The current sections of Carla Vista Rentals balance sheets at December 31, 2024 and 2023, are presented here. Carla Vista's profit for 2024 was $146, 880. Depreciation expense was $ 23,040. 2024 2023 Current assets Cash $100, 800 $95, 040 Accounts receivable 105,600 85,440 Inventory 151, 680 165, 120 Prepaid expenses 25,920 21,120 Total current assets $384,000 $366,720 Current liabilities Accrued expenses payable $14, 400 $4,800 Accounts payable 81,600 88,320 Total current liabilities $96,000 $93,120 Prepare the net cash provided (used) by operating activities section of the company's statement of cash flows for the year ended December 31, 2024, using the indirect method
The current sections of Carla Vista Rentals balance sheets at December 31, 2024 and 2023, are presented here. Carla Vista's profit for 2024 was $146, 880. Depreciation expense was $ 23,040. 2024 2023 Current assets Cash $100, 800 $95, 040 Accounts receivable 105,600 85,440 Inventory 151, 680 165, 120 Prepaid expenses 25,920 21,120 Total current assets $384,000 $366,720 Current liabilities Accrued expenses payable $14, 400 $4,800 Accounts payable 81,600 88,320 Total current liabilities $96,000 $93,120 Prepare the net cash provided (used) by operating activities section of the company's statement of cash flows for the year ended December 31, 2024, using the indirect method
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The current sections of Carla Vista Rentals balance sheets at December 31, 2024 and 2023,
are presented here. Carla Vista's profit for 2024 was $146, 880. Depreciation expense was $
23,040. 2024 2023 Current assets Cash $100,800 $95,040 Accounts receivable
105,600 85,440 Inventory 151,680 165, 120 Prepaid expenses 25,920 21, 120 Total current
assets $384,000 $366, 720 Current liabilities Accrued expenses payable $14,400 $4,800
Accounts payable 81, 600 88,320 Total current liabilities $96,000 $93, 120 Prepare the net
cash provided (used) by operating activities section of the company's statement of cash
flows for the year ended December 31, 2024, using the indirect method
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