Problem 13-3A (Direct Method) Your answer is partially correct. Try again. The i

Question

Problem 13-3A (Direct Method) Your answer is partially correct. Try again. The income statement for Tremblant Limited is presented here: TREMBLANT LIMITED Income Statement Year Ended December 31, 2015 Service revenue Operating expenses Profit from operations Interest expense Profit before income tax Income tax expense Profit $908,300 710,400 197,900 76,200 121,700 38,220 $83,480 Tremblant's statement of financial position contained these comparative data at December 31: 2015 2014 $49,530 15,480 Accounts receivable Prepaid expenses Accounts payable Salaries payable Unearned revenue Interest payable Income tax payable $57,800 11,060 35,920 18,230 11,420 6,300 4,670 42,790 20,630 8,090 5,190 9,910

Explanation / Answer

Cash receipts from customers 903360 Cash payments: For operating expenses -116050 For interest -75090 For income tax -43460 =38220-4670+9910 To employees -510800 -745400 Net cash provided by operating activities 157960

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---