FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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    Balances of the current asset and current liability accounts at the end and beginning of the year are as follows:

     
    End
    Beginning
    Cash
    $62,000   
    $73,000   
    Accounts Receivable (net)
    75,000   
    60,000   
    Inventories
    54,000   
    47,000   
    Accounts Payable (merchandise creditors)
    43,000   
    37,000   
    Salaries Payable
    2,800   
    3,800   
    Sales (on account)
    210,000   
       
    Cost of Merchandise Sold
    70,000   
       
    Operating Expenses Other Than Depreciation
    67,000   
       

     

    Use the direct method to prepare the operating activities section of a statement of cash flows. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

    blankCash Flows From The Operating Activities Section
    Cash flows from (used for) operating activities:  
     
    $- Select -
     
    $- Select -
     
    - Select -
     
    $- Select -
     
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