The following accounts and corresponding balances were drawn from Osprey Companys 2014 and 2013 year-end balance sheets:
Question:
During the year, $84,000 of unearned revenue was recognized as having been earned. Rent expense for 2014 was $24,000.
Required
Based on this information alone, prepare the operating activities section of the statement of cash flows assuming the direct approach isused.
Transcribed Image Text:
Account Title Unearned revenue Prepaid rent 2014 2013 $4,500 5,200 $6,000 3,600
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Related Book For
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
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