Accounting question I need answered

Sigchi4life
Category:
Accounting
Price: $10 USD

Question description

31.  The following information related to comparative balance sheets is available for Metro Corporation: (10 points)

Increase in cash                                   50,000

Decrease in accounts receivable  (15,000)

Decrease in Inventory                          (25,000)

Increase in prepaid insurance                11,000

Increase in accounts payable                10,000
  

Additional selected information from the income statement was also provided:
1. Depreciation expense of $20,000
2. A loss on sale of equipment $3,500
3. Net income $122,000
Prepare the cash flows from operating activities using the indirect method.  


Tutor Answer

(Top Tutor) Daniel C.
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School: University of Maryland
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