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Forten company statement of cash flows

14/10/2021 muhammad11 Business & Management Masters $15-50 (Short Assignment) 2 Day
Problem 16-1A Indirect: Statement Of Cash Flows - FORTEN COMPANY Problem 16-1A Indirect: Statement of cash flows LO A1, P1, P2, P3 Forten Company, a merchandiser, recently completed its calendar-year 2013 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) Other Expenses are paid in advance and are initially debited to Prepaid Expenses. The company’s balance sheets and income statement follow. FORTEN COMPANY Comparative Balance Sheets December 31, 2013 and 2012 2013 2012 Assets Cash $ 63,909 $ 68,500 Accounts receivable 74,225 57,625 Merchandise inventory 265,156 237,800 Prepaid expenses 1,460 1,925 Equipment …
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