The current sections of Scoggin Inc.s balance sheets at December 31, 2013 and 2014 are presented here.
Question:
The current sections of Scoggin Inc.’s balance sheets at December 31, 2013 and 2014 are presented here. Scoggin’s net income for 2014 was $153,000. Depreciation expense was $24,000.
Instructions
Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2014, using the indirectmethod.
Transcribed Image Text:
2014 2013 Current assets Cash Accounts receivable Inventory Prepaid expenses $105,000 110,000 158,000 27,000 S400,000 99,000 89,000 172,000 22,000 $382,000 Total current assets Current liabilities 15,000 85,000 $100,000 5,000 92,000 $97,000 d expenses payable Accrue Accounts payable Total current liabilities
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Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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