Question

Exercise 17-13 The 2020 accounting records of Blocker Transport reveal these transactions and events. Payment of...

Exercise 17-13

The 2020 accounting records of Blocker Transport reveal these transactions and events.

Payment of interest $10,100 Collection of accounts receivable $190,800
Cash sales 49,100 Payment of salaries and wages 57,800
Receipt of dividend revenue 17,700 Depreciation expense 16,600
Payment of income taxes 15,300 Proceeds from sale of vehicles 12,700
Net income 38,800 Purchase of equipment for cash 21,200
Payment of accounts payable Loss on sale of vehicles 3,800
    for merchandise 114,800 Payment of dividends 13,800
Payment for land 73,400 Payment of operating expenses 28,500


Prepare the cash flows from operating activities section using the direct method. (Not all of the items will be used.)

Homework Answers

Answer #1
Operating Activities Section
Cash receipts:
Cash sales 49,100
Receipt of dividend revenue 17,700
Collection of accounts receivable 190,800
Total cash receipts 257,600
Cash payments:
Payment of interest 10,100
Payment of income taxes 15,300
Payment of accounts payable for merchandise 114,800
Payment of salaries and wages 57,800
Payment of operating expenses 28,500
Total cash payments 226,500
Cash flow from operating activities $31,100

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