1.Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Sales $ 72,000 Accounts receivable increase $ 9,000 Expenses: Inventory decrease 2,000 Cost of goods sold 41,000 Salaries payable increase 1,000 Salaries expense 10,000 Depreciation expense 7,000 Net income $ 14,000 Required: Prepare the operating activities section of the statement of cash flows using the indirect method.
1.Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Sales $ 72,000 Accounts receivable increase $ 9,000 Expenses: Inventory decrease 2,000 Cost of goods sold 41,000 Salaries payable increase 1,000 Salaries expense 10,000 Depreciation expense 7,000 Net income $ 14,000 Required: Prepare the operating activities section of the statement of cash flows using the indirect method.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 5RE: In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts...
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1.Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Sales $ 72,000 Accounts receivable increase $ 9,000 Expenses: Inventory decrease 2,000 Cost of goods sold 41,000 Salaries payable increase 1,000 Salaries expense 10,000
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