Homework Help is Here – Start Your Trial Now!
Business
Accounting
DRYEYE COMPANY Partial Statement of Cash Flows For the Year Ended October 31, 2021 | Cash Flows from Opearting Activities Cash Receipts from Customers Less Cash Payments For Operating Expenses Net Cash Provided by Operating Activities

DRYEYE COMPANY Partial Statement of Cash Flows For the Year Ended October 31, 2021 | Cash Flows from Opearting Activities Cash Receipts from Customers Less Cash Payments For Operating Expenses Net Cash Provided by Operating Activities

Cornerstones of Financial Accounting
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 55PSB: Preparing a Statement of Cash Flows Volusia Company reported the following comparative balance...
See similar textbooks
icon
Related questions
Question

I need some assistance in Preparing the operating activities section of the statement of cash flows using the direct method.

See attached images for the inputs.  I have been getting "bounced" on the yellow sections  for incorrect values

DRYEYE COMPANY Partial Statement of Cash Flows For the Year Ended October 31, 2021 Cash Flows from Opearting Activities Cash Receipts from Customers Less Cash Payments For Operating Expenses Net Cash Provided by Operating Activities
Transcribed Image Text:DRYEYE COMPANY Partial Statement of Cash Flows For the Year Ended October 31, 2021 Cash Flows from Opearting Activities Cash Receipts from Customers Less Cash Payments For Operating Expenses Net Cash Provided by Operating Activities
DRYEYE COMPANY Income Statement for Year Ended October 31, 2021 Sales revenue $7,499,900 Cost of goods sold Beginning Inventory $1,980,800 Purchases 4,326,200 Goods available for sale 6,307,000 Ending Inventory 1,649,800 Total cost of goods sold Gross Profit 4,657,200 2,842,700 Operating expenses Selling expenses 459,000 Administrative expenses 635,300 1,094,300 Net income $1,748,400 Additional information: 1.Accounts receivable decreased $391,600 during the year, and inventory decreased $331,000. |2.Prepaid expenses increased $172,200 during the year. |3.Accounts payable to suppliers of inventory decreased $342,100 during the year. 4.Accrued expenses payable decreased $109,700 during the year. 5.Administrative expenses include depreciation expense of $100,900
Transcribed Image Text:DRYEYE COMPANY Income Statement for Year Ended October 31, 2021 Sales revenue $7,499,900 Cost of goods sold Beginning Inventory $1,980,800 Purchases 4,326,200 Goods available for sale 6,307,000 Ending Inventory 1,649,800 Total cost of goods sold Gross Profit 4,657,200 2,842,700 Operating expenses Selling expenses 459,000 Administrative expenses 635,300 1,094,300 Net income $1,748,400 Additional information: 1.Accounts receivable decreased $391,600 during the year, and inventory decreased $331,000. |2.Prepaid expenses increased $172,200 during the year. |3.Accounts payable to suppliers of inventory decreased $342,100 during the year. 4.Accrued expenses payable decreased $109,700 during the year. 5.Administrative expenses include depreciation expense of $100,900
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cash Flow Statement Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS