Balances of the current asset and current liability accounts at the end and beginning of the year are as follows:   End Beginning Cash $67,000    $73,000    Accounts Receivable (net) 73,000    60,000    Inventories 54,000    37,000    Accounts Payable (merchandise creditors) 43,000    37,000    Salaries Payable 1,800    3,800    Sales (on account) 210,000      Cost of Merchandise Sold 70,000      Operating Expenses Other Than Depreciation 67,000        Use the direct method to prepare the operating activities section of a statement of cash flows. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. blankOperating Activities Section Cash flows from (used for) operating activities:     $- Select -   - Select -   - Select - Net cash flows from operating activities $fill in the blank 7

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Balances of the current asset and current liability accounts at the end and beginning of the year are as follows:

 
End
Beginning
Cash
$67,000   
$73,000   
Accounts Receivable (net)
73,000   
60,000   
Inventories
54,000   
37,000   
Accounts Payable (merchandise creditors)
43,000   
37,000   
Salaries Payable
1,800   
3,800   
Sales (on account)
210,000   
 
Cost of Merchandise Sold
70,000   
 
Operating Expenses Other Than Depreciation
67,000   
 

 

Use the direct method to prepare the operating activities section of a statement of cash flows. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

blankOperating Activities Section

Cash flows from (used for) operating activities:  
 
$- Select -
 
- Select -
 
- Select -
Net cash flows from operating activities $fill in the blank 7
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