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 $ 85,000 72,000 33,000 31,600 8,900 $ (60,500) Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should 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 $ 23,000 22,000 23,000 16,000 Changes in current operating assets and liabilities

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 $ 85,000 72,000 33,000 31,600 8,900 $ (60,500) Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should 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 $ 23,000 22,000 23,000 16,000 Changes in current operating assets and liabilities

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter6: Statement Of Cash Flows

Section: Chapter Questions

Problem 14E

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The Cash and Accounts Receivable end-of-year balances for a company are provided below. Current Year Prior Year Cash $45,537 $35,300 Accounts receivable (net) 35,900 71,800 Based on this information, what is the amount and percentage of increase or decrease that would be shown with horizontal analysis? Enter a decrease using a minus sign before the amount and the percentage. Account Dollar Change Percent Change Cash $fill in the blank 1 fill in the blank 2 % Accounts Receivable $fill in the blank 4 fill in the blank 5 % increase,decrease
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