Please do not give solution in image format thanku esArundel Company disclosed the following information for its recent calendar year.Income Statement DataRevenuesExpenses:Salaries expenseUtilities expenseDepreciation expenseInterest expenseNet loss$ 100,000 Accounts receivable decreasePurchased a machine for cashSalaries payable increaseInterest payable decrease84,00014,00014,6003,400$ (16,000)Selected Year-End Balance Sheet DataPrepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deductedindicated with a minus sign.)Statement of Cash Flows (partial)Cash flows from operating activities-indirect methodNet lossAdjustments to reconcile net income to net cash provided by operating activities:Income statement items not affecting cashChanges in current assets and liabilities$$ 24,00010,00018,0008,0000

Introduction:- Cash flows are classified into three types as follows under:- Cash flows from…

Arundel Company disclosed the following information for its recent calendar year. Selected Year-End Balance Sheet Data Accounts receivable decrease Purchased a machine for cash Salaries payable increase Interest payable decrease Income Statement Data Revenues Expenses: Salaries expense Utilities expense Depreciation expense Interest expense Net loss $ 100,000 84,000 14,000 14,600 3,400 $ (16,000) Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities-indirect method Net loss Adjustments to reconcile net income to net cash provided by operating activities: Income statement items not affecting cash Changes in current assets and liabilities $ $ 24,000 10,000 18,000 8,000 0

Arundel Company disclosed the following information for its recent calendar year. Selected Year-End Balance Sheet Data Accounts receivable decrease Purchased a machine for cash Salaries payable increase Interest payable decrease Income Statement Data Revenues Expenses: Salaries expense Utilities expense Depreciation expense Interest expense Net loss $ 100,000 84,000 14,000 14,600 3,400 $ (16,000) Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities-indirect method Net loss Adjustments to reconcile net income to net cash provided by operating activities: Income statement items not affecting cash Changes in current assets and liabilities $ $ 24,000 10,000 18,000 8,000 0

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter14: Statement Of Cash Flows

Section: Chapter Questions

Problem 54P

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