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Question 2 [20 points] The account balances for the noncash current assets and current liabilities of Vision Consulting Inc. are as follows: December 31 2015
Question 2 [20 points] The account balances for the noncash current assets and current liabilities of Vision Consulting Inc. are as follows: December 31 2015 2014 Accounts receivable 33,500 39,500 Merchandise inventory. 47,000 62,000 Prepaid expenses 63,000 71,500 Totals 202,500 173,000 Accounts payable 60,000 37,500 Salaries payable 43,500 65,000 Totals 101,500 102,500 During 2015 Vision Consulting Inc. reported depreciation expense of $8,500. All purchases and sales are on account. Net loss for 2015 was $53,500. Prepare the operations section of the statement of cash flows using the indirect method. (select one) Statement of Cash Flows (select one) X x + + +
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