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Parra Company completed its income statement and comparative balance sheet for the current year and provided the following information: Income Statement Service revenue $ 67,500 Expenses: Salaries $ 40,300 Depreciation 6,700 Utilities 6,200 1,500 54,700 Loss on sale of equipment Net income $ 12,800 Current Year Prior Year $ 13,900 $ 25,500 20,500 12,000 Partial Balance Sheet Accounts receivable. Salaries payable Other accrued liabilities Land 5,500 9,400 51,500 57,500 Required: Present the operating activities section of the statement of cash flows for Parra Company using the indirect method. (List cash outflows as negative amounts.) PARRA COMPANY

Parra Company completed its income statement and comparative balance sheet for the current year and provided the following information: Income Statement Service revenue $ 67,500 Expenses: Salaries $ 40,300 Depreciation 6,700 Utilities 6,200 1,500 54,700 Loss on sale of equipment Net income $ 12,800 Current Year Prior Year $ 13,900 $ 25,500 20,500 12,000 Partial Balance Sheet Accounts receivable. Salaries payable Other accrued liabilities Land 5,500 9,400 51,500 57,500 Required: Present the operating activities section of the statement of cash flows for Parra Company using the indirect method. (List cash outflows as negative amounts.) PARRA COMPANY

Managerial Accounting: The Cornerstone of Business Decision-Making
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
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 25BEB: Jasmine Company provided the following income statements for its first 3 years of operation: Refer...
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Parra Company completed its income statement and comparative balance sheet for the current year and provided the following information: Income Statement Service revenue $ 67,500 Expenses: Salaries $ 40,300 Depreciation 6,700 Utilities 6,200 1,500 54,700 Loss on sale of equipment Net income $ 12,800 Current Year Prior Year $ 13,900 $ 25,500 20,500 12,000 Partial Balance Sheet Accounts receivable. Salaries payable Other accrued liabilities Land 5,500 9,400 51,500 57,500 Required: Present the operating activities section of the statement of cash flows for Parra Company using the indirect method. (List cash outflows as negative amounts.) PARRA COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities:
Transcribed Image Text:Parra Company completed its income statement and comparative balance sheet for the current year and provided the following information: Income Statement Service revenue $ 67,500 Expenses: Salaries $ 40,300 Depreciation 6,700 Utilities 6,200 1,500 54,700 Loss on sale of equipment Net income $ 12,800 Current Year Prior Year $ 13,900 $ 25,500 20,500 12,000 Partial Balance Sheet Accounts receivable. Salaries payable Other accrued liabilities Land 5,500 9,400 51,500 57,500 Required: Present the operating activities section of the statement of cash flows for Parra Company using the indirect method. (List cash outflows as negative amounts.) PARRA COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities:
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