Net income for 2011 was 750000 and depreciation expense was

Assignment Help Accounting Basics

Reference no: EM13572297

Gregson Company had the following noncash current asset and current liabilities balances at the end of 2010 and 2011:

	2010	2011
Accounts receivable	$ 60,000	$ 68,000
Inventory	230,000	210,000
Prepaid insurance	15,000	13,000
Accounts payable	20,000	30,000

Net income for 2011 was $750,000 and depreciation expense was $40,000. All sales and all purchases are on account. Gregson uses the indirect method for preparing the statement of cash flows.

Net cash flows from operating activities for 2011 would be?

Reference no: EM13572297

Questions Cloud

What is the primary objective of financial reporting : a what is the primary objective of financial reporting?b identify the characteristics of useful accounting

Bio-cultural anthropology the effect of breastfeeding on : choose a research topicquestion from those listed below. write a 2500 - 3000 word paper using no more than six sources

A state issued 70000000 of 4 20 year term bonds at 105 to : a state issued 70000000 of 4 20 year term bonds at 105 to provide financing for construction of a new state legislative

Laurie belk is president of better books she has no : laurie belk is president of better books. she has no accounting background. belk cannot understand why fair value is

Net income for 2011 was 750000 and depreciation expense was : gregson company had the following noncash current asset and current liabilities balances at the end of 2010 and

Athens corporation uses a job-cost system and applies : athens corporation uses a job-cost system and applies manufacturing overhead to products on the basis of machine hours.

What is the npv and irr of this project should this project : after discovering a new gold vein in the colorado mountains ctc mining corporation must decide whether to mine the

A company is considering selling a piece of factory : a company is considering selling a piece of factory equipment and buying new equipment to replace it. identify two cash

For warren corporation year-end plan assets were 2018200 at : for warren corporation year-end plan assets were 2018200. at the beginning of the year plan assets were 1742800. during

User Account

All Pages