2.2 Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Revenues $ 85,000 Accounts receivable decrease $ 27,000 Expenses: Purchased a machine for cash 18,000 Salaries expense 72,000 Salaries payable increase 23,000 Utilities expense 30,000 Interest payable decrease 16,000 Depreciation expense 28,400 Interest expense 6,800 Net loss $ (52,200) Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
2.2 Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Revenues $ 85,000 Accounts receivable decrease $ 27,000 Expenses: Purchased a machine for cash 18,000 Salaries expense 72,000 Salaries payable increase 23,000 Utilities expense 30,000 Interest payable decrease 16,000 Depreciation expense 28,400 Interest expense 6,800 Net loss $ (52,200) Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
2.2
Arundel Company disclosed the following information for its recent calendar year.
| Income Statement Data | Selected Year-End Balance Sheet Data | ||
| Revenues | $ 85,000 | Accounts receivable decrease | $ 27,000 |
| Expenses: | Purchased a machine for cash | 18,000 | |
| Salaries expense | 72,000 | Salaries payable increase | 23,000 |
| Utilities expense | 30,000 | Interest payable decrease | 16,000 |
| 28,400 | |||
| Interest expense | 6,800 | ||
| Net loss | $ (52,200) |
Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
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