Please do not give solution in image format thanku Cash Flow from Operating Activities (Indirect Method)The Azuza Company owns no plant assets and had the following income statement for the year:$930,000Sales revenueCost of goods sold $650,000Wages expense210,000Rent expense42,000Utilities expense12,000Net income914,000$16,000Additional information about the company includes:End of Beginning ofYearYearAccounts receivable $67,00062,0009,00022,0009,000InventoryPrepaid rentAccounts payableWages payable$59,00086,0007,00030,0007,000 Use the preceding information to calculate the cash flow from operating activities using the indirect method.Remember to use negative signs with answers when appropriate.Cash Flow from Operating ActivitiesNet IncomeAdd (deduct) items to convert net income to cash basisAccounts Receivable+÷InventoryPrepaid RentAccounts PayableWages PayableCash Provided by Operating ActivitiesSave Answers0000++$$

The cash flow statement is prepared to record the cash flow from various activities during the…

Cash Flow from Operating Activities (Indirect Method) The Azuza Company owns no plant assets and had the following income statement for the year: $930,000 Sales revenue Cost of goods sold $650,000 Wages expense 210,000 Rent expense 42,000 Utilities expense 12,000 Net income 914,000 $16,000 Additional information about the company includes: End of Beginning of Year Year Accounts receivable $67,000 Inventory 62,000 Prepaid rent 9,000 Accounts payable 22,000 $59,000 86,000 7,000 30,000

Cash Flow from Operating Activities (Indirect Method) The Azuza Company owns no plant assets and had the following income statement for the year: $930,000 Sales revenue Cost of goods sold $650,000 Wages expense 210,000 Rent expense 42,000 Utilities expense 12,000 Net income 914,000 $16,000 Additional information about the company includes: End of Beginning of Year Year Accounts receivable $67,000 Inventory 62,000 Prepaid rent 9,000 Accounts payable 22,000 $59,000 86,000 7,000 30,000

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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