The company assembled following elements for the years ending December 31st 2018 and 2019. Income statement 2019
Question:
The company assembled following elements for the years ending December 31st 2018 and 2019.
Income statement 2019
Revenue 487 000
- expenses
cogs 299 000
salaries 146 000
depreciation expense 34 500
other expenses 3 000
total expenses 482 500
Net profit 4 500
2019 2018
Current assets
Accounts receivable 81 000 69 000
Inventories 84 500 66 000
Prepaid expenses 1 000 4 000
Current liabilities
Accounts payable 96 000 78 000
Other payables 23 000 11 000
Taxes payables 2 000 7 000
Notes for 2019
Issued new shares 2 000
New equipment purchased for 28 000
Repaid long-term financial debt 12 000
Requirement:
For 2019;prepare the cash flow from operating activities.
Horngrens Accounting
ISBN: 978-0133855388
10th Canadian edition Volume 2
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood