ACO 2071 VIRTUAL COLLEGE exis Alonso111818 5 Homework Chapte

ACO 2071 VIRTUAL COLLEGE( exis Alonso&11/18/18 5 Homework: Chapter 2 Homework Score: 0 of 1pt E13-12A (similar to) Score: 0%, 0 Question Help The comparative baance she for xpedition Travel Services, Inc, for December 31 2054 and 2013.is as fo The tollowing infrmation e oth cords of Expedition Travel Services nc the indinect metho for peparing the statement of cash ows Prepare the oeing eion of the statment ofl cash ows for 2014.ss or Exgediion Trawel Services Inc Activites Section Ondirect Meth December 31, 2014 Statement o Cash Flows-Operating lds and then dlick

Solution

Expedition Travel Services,Inc Statement of Cash flows - Operating activities section (indirect method) For the year ended december 31,2014 Cash Flow from Operating Activities Amount in $ Amount in $ Net income 40000 Adjustments to recognise net income to cash basis depreciation for current year ($19000-12000) 7000 decrese in Account receivables (84000-80000) 4000 Increse in Inventories (56000-23000) -33000 decrese in prepaid insurance ($14000-$12000) 2000 Decrese in Account payables ($34000-25000) -9000 Increse in Wages Payables ($35000-26000) 9000 Increse in Interest Payables ($13000-$11000) 2000 Increse in income tax Payables ($10,000-$7000) 3000 Loss On sales of Land ($10,100 -($120,000-$106,000)) 3900 -11100 Net Cash flow Operating Activities 28900