The potter company reported net income of 225000 for the

Reference no: EM13483533

The Potter Company reported net income of 225,000 for the current year. Depreciation recorded on buildings and equipment amounted to 74,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:

End of year Beginning of year

Cash $20,000 $15,000

Accounts recievable $19,000 $32,000

Inventories $50,000 $65,000

Prepaid expenses $7,000 $5,000

Accounts payable $12,000 $18,000

Income taxes payable $1600 $1200

prepare the cash flows from operating activities section of the statement of cash flows using indirect method.

Reference no: EM13483533

Questions Cloud

How many shares will be repurchased how many shares will : bayani bakerys most recent fcf was 48 million the fcf is expected to grow at a constant rate of 6. the firms wacc is

Bevard nuptial bakery makes very elaborate wedding cakes to : bevard nuptial bakery makes very elaborate wedding cakes to order. the company has an activity-based costing system

The premium also is amortized on a straight-line basis the : company p owns 80 of company s. on january 1 20x3 company s has outstanding 6 bonds with a face value of 200000 and an

Select a country then search the internet for its balance : select a country then search the internet for its balance of payments records to answer the following questions1.how

The potter company reported net income of 225000 for the : the potter company reported net income of 225000 for the current year. depreciation recorded on buildings and equipment

Immediately after the split how many shares will you have : suppose you own 2000 common shares of laurence incorporated. the eps is 10.00 the dps is 3.00 and the stock sells for

The direct write-off method of recording bad debt expense : technology company which operates a chain of 30 electronics supply stores has just completed its fourth year of

A new client enters your office and places a box of : tax preparation scenario summary you have a small tax accounting preparation and bookkeeping practice. a new client

Cmc uses the residual distribution model and pays all : components manufacturing corporation cmc has 1 million shares of stock outstanding. cmc has a target capital structure

User Account

All Pages