108.Subject :- Accounting Cullumber Corporation had the following 2025 income statement.Sales revenueCost of goods soldGross profitOperating expenses (includes depreciation of $22,000)Net income$216,000127,000Cash at Beginning of Period89,000$53,000The following accounts increased during 2025: Accounts Receivable $13,000, Inventory $12,000, and Accounts Payable $14,000.Prepare the cash flows from operating activities section of Cullumber's 2025 statement of cash flows using the direct method.$36,000CULLUMBER CORPORATIONStatement of Cash Flows-Direct Method (Partial)For the Year Ended December 31, 2025$$

Cash flows from operating activities: It is a section of Statement of cash flow that explains the…

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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 13MCQ

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Concept explainers

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.

Question

108.

Subject :- Accounting

Cullumber Corporation had the following 2025 income statement.
Sales revenue
Cost of goods sold
Gross profit
Operating expenses (includes depreciation of $22,000)
Net income
$216,000
127,000
Cash at Beginning of Period
89,000
$
53,000
The following accounts increased during 2025: Accounts Receivable $13,000, Inventory $12,000, and Accounts Payable $14,000.
Prepare the cash flows from operating activities section of Cullumber's 2025 statement of cash flows using the direct method.
$36,000
CULLUMBER CORPORATION
Statement of Cash Flows-Direct Method (Partial)
For the Year Ended December 31, 2025
$
$

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