Question
Partial balance sheets and additional information are listed below for Rickey Company. 2024 2023 Rickey Company Partial Balance Sheets as of December 31 Assets Cash
Partial balance sheets and additional information are listed below for Rickey Company.
| 2024 | 2023 | |
|---|---|---|
| Rickey Company | ||
| Partial Balance Sheets | ||
| as of December 31 | ||
| Assets | ||
| Cash | $ 25,400 | $ 46,000 |
| Accounts receivable | 91,000 | 75,400 |
| Inventory | 40,400 | 46,000 |
| Liabilities | ||
| Accounts payable | $ 67,400 | $ 86,000 |
Additional information for 2024:
Net income was $166,000.
Depreciation expense was $23,000.
Required:
Prepare the operating activities section of the statement of cash flows for 2024 using the indirect method.
Note: Amounts to be deducted should be indicated with a minus
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Cornerstones of Managerial Accounting
Authors: Mowen, Hansen, Heitger
3rd Edition
324660138, 978-0324660135
