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2014 The account balances for the noncash current assets and current liabilities of Bentley Inc. are as follows: December 31 2015 Accounts receivable 15,000 39,000
2014 The account balances for the noncash current assets and current liabilities of Bentley Inc. are as follows: December 31 2015 Accounts receivable 15,000 39,000 Merchandise inventory.. 61,500 47,000 Prepaid expenses 52,000 43,500 Totals 130,500 129,500 Accounts payable 32,000 39,500 Salaries payable 33,000 56,500 Totals 127,000 96,000 During 2015 Bentley Inc. reported depreciation expense of $16,500. A gain on sale of equipment was reported in the amount of $12,500. All purchases and sales are on account. Net income for 2015 was $55,000. Prepare the operations section of the statement of cash flows using the indirect method. (select one) Statement of Cash Flows (select one)
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