Question

Neptune Strategy, Inc., provides consulting services. In 20X1, net income was $185,000 on revenues of $460,000 and expenses of $275,000. The only noncash expense was depreciation of $35,000. The company has no inventory. Accounts receivable increased by $5,000 during 20X1, and accounts payable and salaries payable were unchanged.
Prepare a statement of cash flows from operating activities. Use the direct method. Omit supporting schedules.



$1.99
Sales0
Views57
Comments0
  • CreatedFebruary 20, 2015
  • Files Included
Post your question
5000