Repage Inc. reported a net cash flow from operating activities of $40,625 on its cash flow statement
Question:
Decrease in legal fees payable............................$1,000
Increase in prepaid expenses...................................400
Amortization........................................................3,350
Loss on sale of equipment...................................1,500
Increase in accounts payable..................................600
Decrease in inventories........................................2,175
Increase in trade accounts receivable..................2,000
Determine the net income reported by Repage Inc. for the year ended December 31, 2014.
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Related Book For
Accounting
ISBN: 978-0132690089
9th Canadian Edition volume 2
Authors: Charles T. Horngren, Walter T. Harrison Jr., Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
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