The 2022 accounting records of Crane Transport provide the following information. Payment of interest $10,000 Payment of salaries and wages $56,000 Cash sales 49,000 Depreciation expense 15,000 Receipt of dividend revenue 17,000 Proceeds from sale of vehicles 811,000 Payment of income taxes 15,000 Purchase of equipment for cash 21,000 Net income 37,000 Loss on sale of vehicles 2,000 Payment for merchandise 96,000 Payment of dividends 13,000 Payment for land 73,000 Payment of operating expenses 27,000 Collection of accounts receivable 195,000 Prepare the cash flows from operating activities section using the direct method.

The 2022 accounting records of Crane Transport provide the following information. Payment of interest $10,000 Payment of salaries and wages $56,000 Cash sales 49,000 Depreciation expense 15,000 Receipt of dividend revenue 17,000 Proceeds from sale of vehicles 811,000 Payment of income taxes 15,000 Purchase of equipment for cash 21,000 Net income 37,000 Loss on sale of vehicles 2,000 Payment for merchandise 96,000 Payment of dividends 13,000 Payment for land 73,000 Payment of operating expenses 27,000 Collection of accounts receivable 195,000 Prepare the cash flows from operating activities section using the direct method.

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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