The following information is taken from the 2022 general ledger of Swifty Company. Rent Rent expense $30,600 Prepaid rent, January 1 6,200 Prepaid rent, December 31 7,600 Salaries Salaries and wages expense $64,300 Salaries and wages payable, January 1 2,700 Salaries and wages payable, December 31 8,700 Sales Šales revenue $ 160,000 Accounts receivable, January 1 19,300 Accounts receivable, December 31 6,600 In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the direct method. Cash payments for rent 24 Cash payments for salaries 2$ Cash receipts from customers %24
The following information is taken from the 2022 general ledger of Swifty Company. Rent Rent expense $30,600 Prepaid rent, January 1 6,200 Prepaid rent, December 31 7,600 Salaries Salaries and wages expense $64,300 Salaries and wages payable, January 1 2,700 Salaries and wages payable, December 31 8,700 Sales Šales revenue $ 160,000 Accounts receivable, January 1 19,300 Accounts receivable, December 31 6,600 In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the direct method. Cash payments for rent 24 Cash payments for salaries 2$ Cash receipts from customers %24
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
Chapter12: Intangibles
Section: Chapter Questions
Problem 10MC
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