FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Arundel Company disclosed the following information for its recent calendar year.
Income Statement Data
Revenues
Expenses:
Salaries expense
Utilities expense
Depreciation expense
Other expenses
Net loss
$ 95,000
73,000
35,000
28,800
9,000
$(50,800)
Cash flows from operating activities
Selected Year-End Balance Sheet Data
Accounts receivable decrease
Purchased a machine for cash
Salaries payable increase
Other accrued liabilities decrease
Prepare the operating activities section of the statement of cash flows using the indirect method. (Any loss or amounts to be
deducted should be indicated with a minus sign.)
Statement of Cash Flows (partial)
$25,000
19,000
24,000
15,000
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Transcribed Image Text:Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Revenues Expenses: Salaries expense Utilities expense Depreciation expense Other expenses Net loss $ 95,000 73,000 35,000 28,800 9,000 $(50,800) Cash flows from operating activities Selected Year-End Balance Sheet Data Accounts receivable decrease Purchased a machine for cash Salaries payable increase Other accrued liabilities decrease Prepare the operating activities section of the statement of cash flows using the indirect method. (Any loss or amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) $25,000 19,000 24,000 15,000
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