Accounting Question----Accounting expert only Please!
Avaleeann2017
Cash Flows" Please respond to the following:
E12-4 The current sections of Sunn Inc.'s balance sheets at December 31, 2016 and 2017, are presented here. Sunn's net income for 2017 was $153,000. Depreciation expense was $27,000.
| 2017 | 2016 |
Current assets |
|
|
Cash | $105,000 | $ 99,000 |
Accounts receivable | 80,000 | 89,000 |
Inventory | 168,000 | 172,000 |
Prepaid expenses | 27,000 | 22,000 |
Total current assets | $380,000 | $382,000 |
Current liabilities |
|
|
Accrued expenses payable | $ 15,000 | $ 5,000 |
Accounts payable | 85,000 | 92,000 |
Total current liabilities | $100,000 | $ 97,000 |
Instructions
Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2017, using the indirect method. Suggest a meaning for this number.
Prepare statement of cash flows—indirect method.
Check Figure for E12-4 Net cash provided $191,000.
9 years ago
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sunn_inc.s_-_statement_of_cash_flows.xlsx
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- sunn_inc_cash_flow_tutorial.xlsx
