17-5 Accountsreceivable $110,000 $89,000 Inventory 158,000 172,000 PrepaidExpens

Question

17-5

                       Accountsreceivable                   $110,000                                $89,000

                       Inventory                                     158,000                                172,000

                       PrepaidExpense                          27,000                                  22,000

Current liabilities

        Accrued expensepayable                         $15,000                                 $5,000

                       AccountsPayable                        85,000                                92,000

            Totalcurrentliabilities                          $100,000                               $97,000

Instructions

Explanation / Answer

I. Cash flowsfrom Operation Activities : 31Dec,2008 Net income $153,000 Add: Increase in accrued expensepayable 10000         Decrease inInventory 14000 24000 Less:Increase in Prepaid expense 5000         Increase in Accountsreceivable 21000         Decrease in Accountspayable 7000 33000 A. cashinflows from operating activities $144,000

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