Question

Income Statement Data Selected Year-End Balance Sheet Data Revenues $ 110,000 Accounts receivable decrease $ 29,000...

Income Statement Data Selected Year-End Balance Sheet Data
Revenues $ 110,000 Accounts receivable decrease $ 29,000
Expenses Purchased a machine for cash 20,000
Salaries expense 68,000 Salaries payable increase 26,000
Utilities expense 30,000 Other accrued liabilities decrease 16,000
Depreciation expense 32,400
Other expenses 7,700
Net loss $ (28,100 )


Required:

1. Prepare the operating activities section of the statement of cash flows using the indirect method. (Any losses or amounts to be deducted should be indi

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Answer #1
Partial Statement of Cash Flows (Partial)
$
Cash Flow from Operating Activities
Net Loss         (28,100.00)
Adjustments for non cash effects:
Depreciation Expense          32,400.00
Changes in operating assets and liabilities:
Decrease in Accounts receivables          29,000.00
Increase in Salaries payable          26,000.00
Decrease in Other accrued liabilities         (16,000.00)
Net Cash Flow from Operating Activities          43,300.00
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