Solution-Operating activities section of blues travelers

Operating activities section of blues travelers statement

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Reference no: EM13550325

The current sections of Blues Traveler Co. balance sheets at December 31, 2007 and 2008, are presented below.

BLUES TRAVELER CO. Comparative Balance Sheets (partial) December 31
	2008	2007
Current Assets
Cash	$105,000	$99,000
Accounts receivable	110,000	85,000
Inventory	171,000	186,000
Prepaid expenses	27,000	32,000
Total current assets	$413,000	$402,000
Current liabilities
Accrued expenses payable	$15,000	5,000
Accounts payable	88,000	$92,000
Total current liabilities	$103,000	$97,000

Blues Traveler's net income for 2008 was $163,000. Depreciation expense was $30,000.

Instructions

Prepare the operating activities section of Blues Traveler's statement of cash flows for the year ended December 31, 2008, using the indirect method.

Reference no: EM13550325

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Operating activities section of blues travelers statement

Reference no: EM13550325

Reference no: EM13550325

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