Duggan Sports Bar reported net income of $195,000 for 2008. Duggan also reported depreciation… 1 answer below »

Duggan Sports Bar reported net income of $195,000 for 2008. Duggan also reported depreciation expense of $25,000, and a loss of $5,000 on the sale of equipment. The comparative balance sheets show an increase in accounts receivable of $15,000 for the year, an $8,000 increase in accounts payable, and a decrease in prepaid expenses of $7,000.

Instructions

Prepare the operating activities section of the statement of cash flows for 2008 using the indirect method.

"Is this question part of your assignment? We can help"

ORDER NOW

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *