Arundel Company disclosed the following information for its recent calendar year. Incone Statenent Data Selected Year-End Balance Sheet Data Revenues $ 90,000 Accounts receivable decrease %24 $ 25,000 Expenses: Salaries expense Utilities expense Depreciation expense Interest expense Purchased a machine for cash 70,000 Salaries payable increase 32,000 Interest payable decrease 31, 200 8,000 19,000 26,000 18,000 Net loss $ (51, 200) Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities-indirect method Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities
Arundel Company disclosed the following information for its recent calendar year. Incone Statenent Data Selected Year-End Balance Sheet Data Revenues $ 90,000 Accounts receivable decrease %24 $ 25,000 Expenses: Salaries expense Utilities expense Depreciation expense Interest expense Purchased a machine for cash 70,000 Salaries payable increase 32,000 Interest payable decrease 31, 200 8,000 19,000 26,000 18,000 Net loss $ (51, 200) Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities-indirect method Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 45E: Partial Statement of Cash Flows Service Company had net income during the current year of $65,800....
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