The current sections of Scoggin Inc.'s balance sheets at December 31, 2014 and 2015, are presented...

  

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The current sections of Scoggin Inc.'s balance sheets at December 31, 2014 and 2015, are presented here. Scoggin's net income for 2015 was $151,230. Depreciation expense was $24,550. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2015 $107,930 110,990 158,100 26,320 $403,340 $15,430 85,080 $100,510 2014 $97,100 90,590 171,270 22,590 $381,550 $4,250 92,500 $96,750 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2015, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities ▾ Depreciation Expense Increase in Inventory Decrease in Prepaid Expenses SCOGGIN INC. Partial Statement of Cash Flows For the Year Ended December 31, 2015 Increase in Accrued Expenses Payable Increase in Accounts Receivable Decrease in Accounts Payable Net Cash Provided by Operating Activities 24550 151230 The current sections of Scoggin Inc.'s balance sheets at December 31, 2014 and 2015, are presented here. Scoggin's net income for 2015 was $151,230. Depreciation expense was $24,550. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2015 $107,930 110,990 158,100 26,320 $403,340 $15,430 85,080 $100,510 2014 $97,100 90,590 171,270 22,590 $381,550 $4,250 92,500 $96,750 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2015, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities ▾ Depreciation Expense Increase in Inventory Decrease in Prepaid Expenses SCOGGIN INC. Partial Statement of Cash Flows For the Year Ended December 31, 2015 Increase in Accrued Expenses Payable Increase in Accounts Receivable Decrease in Accounts Payable Net Cash Provided by Operating Activities 24550 151230

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SCOGGIN INC Partial Sttement of Cash Flows For the year ended december 31 2015 Amount ... View the full answer