Question

Macgregor Company completed its first year of operations on December 31, 2014. Its initial income statement showed that Macgregor had revenues of $192,000 and operating expenses of $78,000. Accounts receivable and accounts payable at year-end were $60,000 and $23,000, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes.

Instructions
Compute net cash provided by operating activities using the direct method.



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  • CreatedJanuary 30, 2014
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