Sage Hill Company reported net income of $330,000 for the current year. Depreciation recorded on buildings and equipment amounted to $70,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $27,500 $19,600 Accounts receivable 22,000 40,000 Inventory 50,500 65,000 Accounts payable 10,200 15,900 Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) SAGE HILL COMPANY

Sage Hill Company reported net income of $330,000 for the current year. Depreciation recorded on buildings and equipment amounted to $70,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $27,500 $19,600 Accounts receivable 22,000 40,000 Inventory 50,500 65,000 Accounts payable 10,200 15,900 Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) SAGE HILL COMPANY

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Description: Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method. (Show amountsthat decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)SAGE HILL COMPANYPartial S

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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