# The income statement for Piura Merchandising Corporation is as follows: Other information is as follows: a. Accounts payable decreased by $20,000 during the year. b. Accounts receivable increased by$20,000. c. All wages were paid at the beginning of the year; at the end of the year, wages payable had a balance of $12,000. d. Prepaid insurance increased by$24,000 during the year. Required: Prepare a schedule of operating cash flows using the direct method.

### Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
Publisher: Cengage Learning
ISBN: 9781337115773

### Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
Publisher: Cengage Learning
ISBN: 9781337115773

#### Solutions

Chapter
Section
Chapter 14, Problem 43E
Textbook Problem

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