Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER
Income Statement
For the year ended December 31, 2018
Net sales $1,725,000
Expenses:
Cost of goods sold $1,020,000
Operating expenses 530,000
Depreciation expense 47,000
Income tax expense 37,000
Total expenses 1,634,000
Net income $ 91,000
PEACH COMPUTER
Selected Balance Sheet Data
December 31
2018 2017 Increase (I)
or
Decrease (D)
Cash $99,000 $83,500 $15,500 (I)
Accounts receivable 46,300 50,500 4,200 (D)
Inventory 72,000 53,500 18,500 (I)
Prepaid rent 2,700 4,400 1,700 (D)
Accounts payable 42,000 35,500 6,500 (I)
Income tax payable 4,700 8,500 3,800 (D)
Required:
Prepare the operating activities section of the statement of cash flows for Peach Computer using the DIRECT method. (List cash outflows as negative amounts.)

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

Emily spent her summer vacation in buenos aires, argentina, where she got plastic surgery for a fraction of what it would cost in the united states. this is an example of:

Cash flow is often a problem for small businesses. how can an entrepreneur increase cash flow? a) locate lower-priced suppliers. b) forego sending in estimated tax payments to the irs c) shorten the terms on a bank loan to pay it off more quickly d) sell more low-margin items.