Top Posters
Since Sunday
21
o
6
d
6
A
5
H
5
n
4
t
4
d
4
p
4
r
4
s
4
C
3
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
hcraik2 hcraik2
wrote...
Go to Answer
Posts: 86
Rep: 0 0
A month ago
Burton Company's current asset and liability balances for the past two years are as follows.  Net income for the year was $120,000 and depreciation expense was $15,000.

​​Prior yearCurrent year
Accounts receivable$  80,000$  65,000
Inventory130,000140,000
Accounts payable45,00040,000
Accrued liabilities12,00015,000
Required:

Using the indirect method, prepare the cash flows provided by operating activities section of the statement of cash flows.
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
Author:
Read 4 times
1 Reply
Replies
Answer verified by a subject expert
tpriest1tpriest1
wrote...
#1
Posts: 69
Rep: 1 0
A month ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
Net income$120,000
Depreciation expense15,000
Decrease in accounts receivable15,000
Increase in inventory(10,000)
Decrease in accounts payable(5,000)
Increase in accrued liabilities      3,000
Net cash provided by operating activities$138,000


1

Related Topics

hcraik2 Author
wrote...

A month ago
This site is awesome
brina10
wrote...

Yesterday
Helped a lot
smi3
wrote...

2 hours ago
This calls for a celebration Person Raising Both Hands in Celebration
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  215 People Browsing
 322 Signed Up Today
Start New Topic Take the Tour Study Tips Study ToolsNew Topics Trending Browse by Textbook
Related Images
  
 195
  
 472
  
 136
Your Opinion
Which country would you like to visit for its food?
Votes: 126
Previous poll results: What's your favorite math subject?