The net income reported on the income statement for the current year was $92,000. Depreciation…


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29.99

The net income reported on the income statement for the current year was $92,000. Depreciation… 1 answer below » The net income reported on the income statement for the current year was $92,000. Depreciation recorded on store equipment for the year amounted to $18,600. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: View complete question » End of Year Beginning of Year Cash $46,700 $44,200 Accounts receivable (net) 32,300 31,100 Merchandise inventory 54,800 56,700 Prepaid expenses 4,000 3,500 Accounts payable (merchandise creditors) 46,000 42,900 Wages The net income reported on the income statement for the current year was $92,000. Depreciation recorded on store equipment for the year amounted to $18,600. 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 $46,700 $44,200 Accounts receivable (net) 32,300 31,100 Merchandise inventory 54,800 56,700 Prepaid expenses 4,000 3,500 Accounts payable (merchandise creditors) 46,000 42,900 Wages payable 21,400 23,600 Prepare the cash flows from operating activities section of the statement of cash flows, using the indirect method. View less » Jul 18 2014 01:00 PM

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29.99