The 2022 accounting records of Sheffield Transport provide the following information Payment of salaries and wages Depreciation expense Proceeds from sale of vehicles Purchase of equipment for cash Loss on sale of vehicles Payment of interest Cash sales Receipt of dividend revenue 18.800 Payment of income taxes 16.900 Net income 38,400 Payment for merchandise 97,600 Payment for land 73,300 Collection of accounts receivable 196,100 Cash receipts from $10,000 cash payments: 50,800 Prepare the cash flows from operating activities section using the direct method. SHEFFIELD Transport Statement of Cash Flows-Direct Method IRUNDO Payment of dividends Payment of operating expenses + $57,100 16,300 812,100 22,800 2,900 14,200 28,300
The 2022 accounting records of Sheffield Transport provide the following information Payment of salaries and wages Depreciation expense Proceeds from sale of vehicles Purchase of equipment for cash Loss on sale of vehicles Payment of interest Cash sales Receipt of dividend revenue 18.800 Payment of income taxes 16.900 Net income 38,400 Payment for merchandise 97,600 Payment for land 73,300 Collection of accounts receivable 196,100 Cash receipts from $10,000 cash payments: 50,800 Prepare the cash flows from operating activities section using the direct method. SHEFFIELD Transport Statement of Cash Flows-Direct Method IRUNDO Payment of dividends Payment of operating expenses + $57,100 16,300 812,100 22,800 2,900 14,200 28,300
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![The 2022 accounting records of Sheffield Transport provide the following information.
Payment of interest
$10,000
Payment of salaries and wages
Cash sales
50,800
Depreciation expense
Receipt of dividend revenue
18,800
Proceeds from sale of vehicles
Payment of income taxes
16.900
Purchase of equipment for cash
Net income
38,400
Loss on sale of vehicles
Payment for merchandise
97,600
Payment of dividends
Payment for land
73,300
Payment of operating expenses
Collection of accounts receivable 196,100
Prepare the cash flows from operating activities section using the direct method.
SHEFFIELD Transport
Statement of Cash Flows-Direct Method
IROND:
Cash receipts from
cash payments:
수
$
$57,100
16,300
812,100
22,800
2.900
14,200
28,300](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1ef3ad37-f77e-4b09-af89-0307cd0bf3be%2F20b7de93-15df-4fe0-b484-a6f6ef77689b%2Fvekzt1q_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The 2022 accounting records of Sheffield Transport provide the following information.
Payment of interest
$10,000
Payment of salaries and wages
Cash sales
50,800
Depreciation expense
Receipt of dividend revenue
18,800
Proceeds from sale of vehicles
Payment of income taxes
16.900
Purchase of equipment for cash
Net income
38,400
Loss on sale of vehicles
Payment for merchandise
97,600
Payment of dividends
Payment for land
73,300
Payment of operating expenses
Collection of accounts receivable 196,100
Prepare the cash flows from operating activities section using the direct method.
SHEFFIELD Transport
Statement of Cash Flows-Direct Method
IROND:
Cash receipts from
cash payments:
수
$
$57,100
16,300
812,100
22,800
2.900
14,200
28,300
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