The current sections of Leach Inc.'s balance sheets at December 31, 2010 and 2011, are presented here.
rubyCpaMba (Not rated)
(Not rated)
The current sections of Leach Inc.'s balance sheets at December 31, 2010 and 2011, are presented here.
Leach's net income for 2011 was $152,990. Depreciation expense was $24,030.
2011 | 2010 | |||
Current assets | ||||
Cash | $104,980 | $99,290 | ||
Accounts receivable | 109,930 | 88,630 | ||
Inventory | 157,840 | 172,260 | ||
Prepaid expenses | 27,250 | 21,740 | ||
Total current assets | $400,000 | $381,920 | ||
Current liabilities | ||||
Accrued expenses payable | $14,910 | $5,140 | ||
Accounts payable | 85,320 | 92,490 | ||
Total current liabilities | $100,230 | $97,630 | ||
Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2011, using the indirect method.
13 years ago
Leach Inc. __Cash flow __correct w/ Solutions ! Use it as a GUIDE
NOT RATED
Purchase the answer to view it
