The net income reported on the income statement for the current year was $295,779. Depreciation recorded on fixed assets and amortization of patents for the year were $36,030 and $11,489, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $64,081 $48,791 Accounts Receivable 123,219 102,308 Inventories 100,310 86,859 Prepaid Expenses 3,248 6,877 Accounts Payable (merchandise creditors) 45,294 62,023 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
The net income reported on the income statement for the current year was $295,779. Depreciation recorded on fixed assets and amortization of patents for the year were $36,030 and $11,489, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $64,081 $48,791 Accounts Receivable 123,219 102,308 Inventories 100,310 86,859 Prepaid Expenses 3,248 6,877 Accounts Payable (merchandise creditors) 45,294 62,023 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter7: Fixed Assets, Natural Resources, And Intangible Assets
Section: Chapter Questions
Problem 7.3.2MBA
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The net income reported on the income statement for the current year was $295,779.
End | Beginning | |
Cash | $64,081 | $48,791 |
123,219 | 102,308 | |
Inventories | 100,310 | 86,859 |
Prepaid Expenses | 3,248 | 6,877 |
Accounts Payable (merchandise creditors) | 45,294 | 62,023 |
What is the amount of
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