Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 10 minutes please question 2 [20 points) the a

10 minutes please Question 2 [20 points) The account balances for...

60.1K

Verified Solution

Question

Accounting

10 minutes please
image
Question 2 [20 points) The account balances for the noncash current assets and current liabilities of Zcom Inc. are as follows: December 31 2015 2014 Accounts receivable 48,500 35,500 Merchandise Inventory 23,500 45,000 Prepaid expenses 54,000 47.000 Totals 129.000 127,500 Accounts payable 7,000 30,000 Salarles payable 61,000 45,500 Totals 83,000 75,500 During 2015 Zcom Inc. reported depreciation expense of $16,500. A gain on sale of equipment was reported in the amount of $9,000. All purchases and sales are on account. Net income for 2015 was $42,500. Prepare the operations section of the statement of cash flows using the indirect method. (select one) Statement of Cash Flows (select one) x 1 + X X X tt

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Suppose a 50 year old female presents to the ER with chest pain after eating a...

Chemistry
Q

Q1 a) Many environmental legislation and enforcement are adopted in Malaysia. These legislations need to be updated,...

Civil Engineering
Q

Questions Every five to seven years, Disney can sell the same products to an entirely new audience...

General Management
Q

27 The amino acids in polypeptide chains which contain sulfur S are A cystine B...

Biology
Q

3 Speed of a transverse wave on a straight win mass 6 0 g length...

Physics
Q

Let in a binomial distribution consisting of 5 independent trials probabilities of exactly 1 and...

Basic Math
Q

Santa Corporation issued a bond on January 1 of this year with a face value...

Accounting
Q

Pharoah Industries manufactures and sells three different models of wet-dry shop vacuum cleaners. Although the...

Accounting
Q

A trucking company sold its fleet of trucks for $56,700. The trucks originally cost $1,491,000...

Accounting
Q

is complete but not entirely correct. 1. Many instances of misstatement are based on the...

Accounting
Q

Wont Capital Corp declares a liquidating dividend on June 1, 2009 to common share owners...

Accounting
Q

The City of Castletons General Fund had the following post-closing trial balance at June 30,...

Accounting