Vikrambhai balance sheets:Account TitleAccounts receivablePrepaid rentUtilities payableOther operating expenses payableThe Year 2 income statement is shown next:SalesRent expenseIncome StatementUtilities expenseOther operating expensesNet IncomeYear 2$ 71,300$ 322,000(23,300)(35,600)(167,800)$ 95,300Net cash flow from operating activitiesCash Flows from Operating Activities-Direct MethodCash flows from operating activities:7301,57032,900Requireda. Prepare the operating activities section of the statement of cash flows using the direct method.Note: Amounts to be deducted should be indicated with a minus sign.Year 1$ 81,5009201,03035,5000

The cash flow statement is a detailed statement that shows the inflows and outflows of cash. The…

balance sheets: Account Title Accounts receivable Prepaid rent Utilities payable Other operating expenses payable The Year 2 income statement is shown next: Sales Rent expense Income Statement Utilities expense Other operating expenses Net Income Year 2 $ 71,300 $ 322,000 (23,300) (35,600) (167,800) $ 95,300 730 1,570 32,900 Cash Flows from Operating Activities-Direct Method Cash flows from operating activities: Year 1 $ 81,500 920 1,030 35,500 Required a. Prepare the operating activities section of the statement of cash flows using the direct method. Note: Amounts to be deducted should be indicated with a minus sign.

balance sheets: Account Title Accounts receivable Prepaid rent Utilities payable Other operating expenses payable The Year 2 income statement is shown next: Sales Rent expense Income Statement Utilities expense Other operating expenses Net Income Year 2 $ 71,300 $ 322,000 (23,300) (35,600) (167,800) $ 95,300 730 1,570 32,900 Cash Flows from Operating Activities-Direct Method Cash flows from operating activities: Year 1 $ 81,500 920 1,030 35,500 Required a. Prepare the operating activities section of the statement of cash flows using the direct method. Note: Amounts to be deducted should be indicated with a minus sign.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 3BE

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