What amount of cash disbursements for insurance would be, Ask an Expert

Accounting

Nagel Co.'s prepaid insurance was $90,000 at December 31, 2013 and $45,000 at December 31, 2012. Insurance expense was $31,000 for 2013 and $27,000 for 2012. What amount of cash disbursements for insurance would be reported in Nagel's 2013 net cash provided by operating activities presented on a direct basis?

a) $59,000

b) $76,000

c) $94,000

d) $31,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M954079

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