Arundel Company disclosed the following information for its recent calendar year. 105,000 Selected Year-End Balance Sheet Data Accounts receivable decrease Purchased a machine for cash 72,000 Salaries payable increase 30,000 Interest payable decrease 32,200 8,500 $ (37,700) Income Statement Data Revenues Expenses: Salaries expense Utilities expense Depreciation expense Interest expense Net loss Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial) Cash flows from operating activities-indirect method $ 24,000 18,000 26,000 13,000 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities ▬▬
Arundel Company disclosed the following information for its recent calendar year. 105,000 Selected Year-End Balance Sheet Data Accounts receivable decrease Purchased a machine for cash 72,000 Salaries payable increase 30,000 Interest payable decrease 32,200 8,500 $ (37,700) Income Statement Data Revenues Expenses: Salaries expense Utilities expense Depreciation expense Interest expense Net loss Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial) Cash flows from operating activities-indirect method $ 24,000 18,000 26,000 13,000 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities ▬▬
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Arundel Company disclosed the following information for its recent calendar year.
Selected Year-End Balance Sheet Data
Accounts receivable decrease
Purchased a machine for cash
Income Statement Data
Revenues
Expenses:
Salaries expense
Utilities expense
Depreciation expense
Interest expense
Net loss
$ 105,000
72,000 Salaries payable increase
30,000 Interest payable decrease
32,200
8,500
$ (37,700)
Prepare the operating activities section of the statement of cash flows using the indirect method.
Note: Amounts to be deducted should be indicated with a minus sign.
Statement of Cash Flows (partial)
Cash flows from operating activities-indirect method
Adjustments to reconcile net income to net cash provided by operating activities
Income statement items not affecting cash
$ 24,000
18,000
26,000
13,000
Changes in current operating assets and liabilities](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4cf9133d-2dd4-45f6-b833-be7167a81438%2F92e0c85e-87d2-4a74-b16d-3b84f3783c9c%2Fqlunmfe_processed.png&w=3840&q=75)
Transcribed Image Text:Arundel Company disclosed the following information for its recent calendar year.
Selected Year-End Balance Sheet Data
Accounts receivable decrease
Purchased a machine for cash
Income Statement Data
Revenues
Expenses:
Salaries expense
Utilities expense
Depreciation expense
Interest expense
Net loss
$ 105,000
72,000 Salaries payable increase
30,000 Interest payable decrease
32,200
8,500
$ (37,700)
Prepare the operating activities section of the statement of cash flows using the indirect method.
Note: Amounts to be deducted should be indicated with a minus sign.
Statement of Cash Flows (partial)
Cash flows from operating activities-indirect method
Adjustments to reconcile net income to net cash provided by operating activities
Income statement items not affecting cash
$ 24,000
18,000
26,000
13,000
Changes in current operating assets and liabilities
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