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Home Q & A Board Other Fields Homework Help Business Accounting
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Kwami Kwami
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7 years ago
Presented below are partial comparative balance sheets of Details, Inc. at December 31, 2004 and 2003:

   DETAILS, INC.
   Partial Balance Sheets
   December 31, 2004 and 2003
   (in thousands)
         Increase/
   2004   2003   (Decrease)
Current Assets
   Cash   $76,000   $7,000   $69,000
   Accounts receivable   18,000   21,000   (3,000)
   Inventory   163,000   220,000   (57,000)
   Prepaid expenses         33,000         47,000        (14,000)
Total Current Assets     $290,000     $295,000         ($5,000)
Current Liabilities
   Accounts payable   $139,000   $166,000   ($27,000)
   Notes payable        12,000        39,000        (27,000)
Total Current Liabilities    $151,000    $205,000      ($54,000)

Additional information (in thousands):
   Net income for 2004   $48,000
   Depreciation expense 2004   21,000
   Amortization expense 2004   100

REQUIRED:
Prepare the operating activities section of Details, Inc.'s statement of cash flows using the indirect method for 2004.
Textbook 
Survey of Accounting: Making Sense of Business

Survey of Accounting: Making Sense of Business


Edition: 1st
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mourningbirdmourningbird
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7 years ago
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Kwami Author
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#2
7 years ago
Aha, makes more sense now.
wrote...
#3
7 years ago
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