$848,470 $625,610 58,770 23,390 707,770 140,700 40,980 $99,720 2014 2013 KRAUSS
ID: 2476073 • Letter: #
Question
$848,470
$625,610
58,770
23,390
707,770
140,700
40,980
$99,720
2014
2013
KRAUSS COMPANY
Statement of Cash Flows (Partial)
For the Year Ended December 31, 2014
________________________ $__________________
Adjustments to Reconsile net income to
________________________
__________________________ $_______________
____________________________ $________________
____________________________ $_____________________
Service revenue$848,470
Operating expenses (excluding depreciation)$625,610
Depreciation expense58,770
Loss on sale of equipment23,390
707,770
Income before income taxes140,700
Income tax expense40,980
Net income$99,720
Explanation / Answer
Answer
Krauss Company
Statement of Cash flows (partial)
for the year ended December 31, 2014
Figures in $
Particulars
Amount
Net income
a
99720
Loss on sale of equipment
b
23390
Depreciation expense
c
58770
Accounts receivable
d
21520
(58310-36790)
Accounts payable
e
14640
(45140-30500)
Income taxes payable
f
-4160
(4430-8590)
Operating cash flow (a+b+c+d+e+f)
213880
Krauss Company
Statement of Cash flows (partial)
for the year ended December 31, 2014
Figures in $
Particulars
Amount
Net income
a
99720
Loss on sale of equipment
b
23390
Depreciation expense
c
58770
Accounts receivable
d
21520
(58310-36790)
Accounts payable
e
14640
(45140-30500)
Income taxes payable
f
-4160
(4430-8590)
Operating cash flow (a+b+c+d+e+f)
213880
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