net income
Question1) wintz company reported net income of $300 000 for 2017. wintz also reported depreciation expense of $45,000 and loss of $13000 on the sale of equipment. the comparative statement of financial position shows a increase in account receivable of $15000 for the year, a $17000 decrease in account payable and a $6000 decrease in prepaid expenses
Instruction: prepare the operating activites section of the statement of cash flows for 2017. use indrect method
Question2) At September 1, the statement of financial position accounts for Stanley’s Restaurant were as follows:
Accounts Payable $ 0 Land $33,000
Accounts Receivable 11,600 Share Capital-Ordinary ?
Buildings 68,000 Notes Payable 48,000
Cash 10,000 Supplies 6,600
Equipment 18,700
Instructions: Prepare a statement of financial position at September 3, 2017.
net income