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Prepare the cash flows from operating activities section

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Question 1: JSW Corp. reported net income on the income statement for the current year of $59,000. Depreciation recorded on fixed assets for the year was $24,000. Balances of the current asset and current liability accounts at the end and beginning of the year are listed below. Prepare the cash flows from operating activities section of a statement of cash flows using the indirect method.

                                                 End                                                 Beginning

Cash                                 $65,000                                       $ 70,000

Accounts receivable (net)       70,000                                      57,000

Inventories                            86,000                                       102,000

Prepaid expenses                       4,000                                          4,500

Accounts payable

(merchandise creditors)              51,000                                             58,000

Cash dividends payable                   4,500                                        6,500

Salaries payable                           6,000                                            7,500

Reference no: EM132545189

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