The following information is provided for the Hildebrand Company: Balances at 30 June 2021 2020 Accounts Receivable $ 2 500 $ 1 500 Inventory 26 000 32 000 Maintenance Supplies 2 000 1 000 Accounts Payable 4 000 3 000 Taxes Payable 2000 3500 Interest Payable 1500 2 500 2021 income statement Revenue $80 000 Cost of goods sold 55 000 Gross profit 25 000 General and administrative expense 6000 Depreciation expense 2 000 Total operating expenses 8 000 Profit before interest and tax 17 000 Interest expense _ 4 000 Profit before income tax 13 000 Income tax expense 4 000 Profit after income tax $ 9000 REQUIRED Prepare the operating activities section of the statement of

The following information is provided for the Hildebrand Company: Balances at 30 June 2021 2020 Accounts Receivable $ 2 500 $ 1 500 Inventory 26 000 32 000 Maintenance Supplies 2 000 1 000 Accounts Payable 4 000 3 000 Taxes Payable 2000 3500 Interest Payable 1500 2 500 2021 income statement Revenue $80 000 Cost of goods sold 55 000 Gross profit 25 000 General and administrative expense 6000 Depreciation expense 2 000 Total operating expenses 8 000 Profit before interest and tax 17 000 Interest expense _ 4 000 Profit before income tax 13 000 Income tax expense 4 000 Profit after income tax $ 9000 REQUIRED Prepare the operating activities section of the statement of

Name: LO319 Prepare operating cash flows under thedirect methodThe followin
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Description: LO319 Prepare operating cash flows under thedirect methodThe following information is provided for the HildebrandCompany:Balances at 30 June20212020Accounts Receivable$ 2500$ 1 500Inventory26 00032 000Maintenance Supplies2 0001 000Accounts Payable4

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 14P: (Appendix 21.1) Operating Cash Flows Refer to the information for Lamberson Company in P21-6....

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