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Weber Company had a $4,200 net loss from operations for 2013. Depreciation expense for 2013 was $1,720 and a 2013 cash dividend of $1,200 was
Weber Company had a $4,200 net loss from operations for 2013. Depreciation expense for 2013 was $1,720 and a 2013 cash dividend of $1,200 was declared and paid. Balances of the current asset and current liability accounts at the beginning and end of 2013 follow. Did Weber Company's 2013 operating activities provide or use cash? Use the indirect method to determine your answer.
Cash | $700 | $1,400 |
Accounts Receivable | 3,200 | 5,000 |
Inventory | 10,000 | 10,600 |
Prepaid Expenses | 1,200 | 1,800 |
Accounts Payable | 2,400 | 1,600 |
Accrued Liabilities | 1,000 | 1,520 |
Net loss | $Answer |
Add (deduct) items to convert net loss to cash basis | |
Depreciation | Answer |
Change in accounts receivable | Answer |
Change in inventory | Answer |
Change in prepaid expenses | Answer |
Change in accounts payable | Answer |
Change in accrued liabilities | Answer |
Net cash from operating activities | $Answer |
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