The current sections of Scoggin Inc.s balance sheets at December 31, 2019 and 2020, are presented here.
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Instructions
Prepare the net cash provided by operating activities section of the companys statement of cash flows for the year ended December 31, 2020, using the indirect method.
Transcribed Image Text:
2020 2019 Current assets $ 99,000 $105,000 Cash Accounts receivable 110,000 89,000 Inventory Prepaid expenses 158,000 172,000 22,000 27,000 Total current assets $400,000 $382,000 Current liabilities $ 15,000 $ 5,000 Accrued expenses payable Accounts payable 85,000 92,000 $ 97,000 $100,000 Total current liabilities
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Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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