Solution-What is the amount of cash flows from operating

What is the amount of cash flows from operating activities

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Reference no: EM133033121

Question - The net income reported on the income statement for the current year was $275,000. Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:

	End	Beginning
Cash	$50,000	$60,000
Accounts receivable	112,000	108,000
Inventories	105,000	93,000
Prepaid expenses	4,500	6,500
Accounts payable (merchandise creditors)	75,000	89,000

Required - What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?

Reference no: EM133033121

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What is the amount of cash flows from operating activities

Reference no: EM133033121

Reference no: EM133033121

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