Account Title Accounts receivable Prepaid rent Utilities payable 1,510 Other operating expenses payable 31,000 Sales Year 2 $73,200 The Year 2 income statement is shown next. Income Statement 770 $292,000 (23,000) (34,800) Other operating expenses (166,200) Net Income $68,000 Rent expense Utilities expense Year 1 $81,900 1,180 1,070 35,300 Required a. Prepare the operating activities section of the statement of cash flows using the direct method. b. Prepare the operating activities section of the statement of cash flows using the indirect method.

Account Title Accounts receivable Prepaid rent Utilities payable 1,510 Other operating expenses payable 31,000 Sales Year 2 $73,200 The Year 2 income statement is shown next. Income Statement 770 $292,000 (23,000) (34,800) Other operating expenses (166,200) Net Income $68,000 Rent expense Utilities expense Year 1 $81,900 1,180 1,070 35,300 Required a. Prepare the operating activities section of the statement of cash flows using the direct method. b. Prepare the operating activities section of the statement of cash flows using the indirect 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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Subject: acounting
hsd.3
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1-Calculate the Net Income for the Fenway Company ___________ 2-Calculate the Gross Profit for the Fenway Company ___________
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What questions 36,37,38,39