Partial balance sheet data and additional information for Bohemian Industries are given below:
Additional Information:
(a)Net income for 2014 was $60,000.
(b)Depreciation expense for 2014 was $25,000.
Prepare the operating activities section of the statement of cash flows,using the indirect method,for the year ending December 31,2014.
Definitions:
Opportunity Cost
The cost of foregoing the next best alternative when making a decision. It represents the benefits that could have been received but were given up to take another course of action.
Cash Balance
The amount of cash a company or individual has available at any given time, reflecting liquidity.
Average Daily Receipts
This metric calculates the average amount of money received by a company on a daily basis over a specific period.
Disbursement Float
The time delay between when a check is written and the actual withdrawal of funds from the account.
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