Accounting Records Assignment | Top Universities |

Accounting Records Assignment | Top Universities |

Chisholm Associates uses the indirect method for preparing the statement of cash flows. The following accounts and balances were drawn from the company’s accounting records:

Beg. Bal.
End. Bal.
Accounts receivable
$ 60,000
$ 80,000
Prepaid insurance
9,200
2,000
Accounts payable
48,000
51,600
Unearned revenue
12,800
7,600
Net income for the period was $80,000. The net cash flows from operating activities would be:
$70,400.
$94,400.
$65,600.
$76,000. Get Accounting Homework Help Today
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