Arundel Company disclosed the following information for its recent calendar year. Selected Year-End Balance Sheet Datal Accounts receivable decrease Purchased a machine for cash Salaries payable increase Interest payable decrease Income Statement Data Revenues Expenses: Salaries expense Utilities expense Depreciation expense Interest expense Net loss $ 95,000 72,000 33,000 32,800 8,700 $ (51,500) $ 24,000 19,000 23,000 12,000 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.)
Arundel Company disclosed the following information for its recent calendar year. Selected Year-End Balance Sheet Datal Accounts receivable decrease Purchased a machine for cash Salaries payable increase Interest payable decrease Income Statement Data Revenues Expenses: Salaries expense Utilities expense Depreciation expense Interest expense Net loss $ 95,000 72,000 33,000 32,800 8,700 $ (51,500) $ 24,000 19,000 23,000 12,000 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
Ee 15.
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
Salaries payable increase
Interest payable decrease
Income Statement Data
Revenues
Expenses:
Salaries expense
Utilities expense
Depreciation expense
Interest expense
Net loss
$ 95,000
72,000
33,000
32,800
8,700
$ (51,500)
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.)
Statement of Cash Flows (partial)
Cash flows from operating activities-indirect method
Not loss
Adjustments to reconcile net income to net cash provided by operating activities
Income statement items not affecting cash
Depreciation expense
Changes in current operating assets and liabilities
Accounts receivable decrease
Purchased a machine for cash
Salaries payable increase
Salaries payable decrease
S (51,500)
32,800
$ 24,000
19,000
23,000
12,000
24,000
19,000
23,000
12,000
59,300
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