The Income Statement of Meaney Inc Meaney Has No Depreciable Assets

question 73

Essay

The income statement of Meaney Inc. for the year ended December 31, 2014, reported the following condensed information: Meaney's balance sheet contained the following comparative data at December 31: $\begin{array}{rr}&2014&2013\\\text { Accounts receivable }&\$ 50,000 & \$ 65,000 \\\text { Accounts payable }&35,000 & 30,000 \\\text { Income taxes payable. }&1,000 & 3,000\end{array}$ Meaney has no depreciable assets. Accounts payable pertains to operating expenses.
Instructions
Prepare the operating activities section of the cash flow statement, using the direct method.

Recognize the importance of environmental factors and community infrastructure in disease prevention.

Understand the historical development of public health initiatives and their impact on community health.

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Definitions:

Onscreen Journal

A digital ledger displayed on a screen, used to record financial transactions in accounting software.

Onscreen Forms

Digital forms displayed on a screen, allowing users to enter and submit information electronically.

Entering Information

The process of inputting data into a system or document.

QuickBooks

Accounting software developed by Intuit, widely used by small and medium-sized businesses for finance management.