The current sections of DoubleDip Inc.'s balance sheets at December 31, 2007 and 2008 are presented here.
Question:
The current sections of DoubleDip Inc.'s balance sheets at December 31, 2007 and 2008 are presented here.
DoubleDip's net income for 2008 was $153,000. Depreciation expense was $19,000.
Instructions
Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2008, using the indirect method.
Transcribed Image Text:
2008 2007 Current assets Cash Accounts receivable Inventory Prepaid expenses $105,000 120,000 148,000 27,000 $400,000 $99,000 89,000 172,000 22,000 $382,000 Total current assets Accrued expenses payable 15,000 85,000 $100,000 S 5,000 92,000 $97,000 Accounts payable Total current liabilities
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Related Book For
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
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