accounting 2 homework
polnakFor YourBusinessTutor:
Use the following information to determine this companys cash flows from operating activities using the inderect method.
BOSS COMPANY
Selected Balance Sheet Information
December 31, 2013 and 2012
2013 2012
Current assets
cash...................................$84,650 $26,800
accounts receivable........... 25,000 32,000
inventory........................... 60,000 54,100
Current liabilities
Accounts payable............. 30,400 25,700
income taxes payable..... 2,050 2,200
BOSS COMPANY
Income Statement
For Year ended December 31, 2013
Sales .................................................$515,000
cost of goods sold............................... 331,600
Gross profit......................................... 183,400
Operating expenses
Depreciation expence.....$ 36,000
other expenses 121,500 157,500
Income before taxes 25,900
Income taxes expense 7,700
Net Income $ 18,200
11 years ago
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polnak_3.xlsx
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- operating_activities.xlsx
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- boss_company__indirect_operating.xlsx
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