Chapin Company reported profit of $410,000 for 2014. Balances of selected current asset and current liability accounts are as shown on the indicated dates: $$\begin{array} { | l | r | r | }
\hline & 1 \operatorname { Jar } 2014 & 31 \text { Dec. } 2014 \
\hline \text { Accourts receivable } & \$ 60,000 & \$ 69,400 \
\hline \text { Irventory } & \$ 130,000 & \$ 141,000 \
\hline \text { Accourts payable } & \$ 54,000 & \$ 48,000 \
\hline
\end{array}$$ Depreciation expense for 2014 amounted to $65,000. Using only the above information, compute Chapin's net cash from operating activities (indirect method) for 2014:

Question

Chapin Company reported profit of $410,000 for 2014. Balances of selected current asset and current liability accounts are as shown on the indicated dates: $$\begin{array} { | l | r | r | } 
\hline & 1 \operatorname { Jar } 2014 & 31 \text { Dec. } 2014 \
\hline \text { Accourts receivable } & \$ 60,000 & \$ 69,400 \
\hline \text { Irventory } & \$ 130,000 & \$ 141,000 \
\hline \text { Accourts payable } & \$ 54,000 & \$ 48,000 \
\hline
\end{array}$$ Depreciation expense for 2014 amounted to $65,000. Using only the above information, compute Chapin's net cash from operating activities (indirect method) for 2014:

Quizplus · Accepted Answer

The Answer of Chapin Company reported profit of $410,000 for 2014. Balances of selected current asset and current liability accounts are as shown on the indicated dates: $$\begin{array} { | l | r | r | } 
\hline & 1 \operatorname { Jar } 2014 & 31 \text { Dec. } 2014 \
\hline \text { Accourts receivable } & \$ 60,000 & \$ 69,400 \
\hline \text { Irventory } & \$ 130,000 & \$ 141,000 \
\hline \text { Accourts payable } & \$ 54,000 & \$ 48,000 \
\hline
\end{array}$$ Depreciation expense for 2014 amounted to $65,000. Using only the above information, compute Chapin's net cash from operating activities (indirect method) for 2014:

Chapin Company Reported Profit of $410,000 for 2014 Depreciation Expense for 2014 Amounted to $65,000