Question
The Net Income for the year was $275,000.Depreciation on equipment and Amortization on a patent were $40,000 and $9,000 respectively.Balances in the current assets and
The Net Income for the year was $275,000.Depreciation on equipment and Amortization on a patent were $40,000 and $9,000 respectively.Balances in the current assets and current liabilities were as follows:
EndingBeginning
Cash$50,000$60,000
Acct. Rec. $112,000$108,000
Inventory$105,000$93,000
PrepaidExp.$4,500$6,500
Acct. Pay.$75,000$89,000
Cash from Operating Activities would be
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Financial Accounting
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
8th edition
978-1118953907, 9781118953808, 1118953908, 1118953800, 978-1119491057
