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Exercise 12-3 (Algo) Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the following Information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data S 95,000 Accounts receivable decrease $29,800 19,000 25,000 15,000 Revenues Purchased a machine for cash Expenses: Salaries expense Utilities expense Depreciation expense Interest expense Salaries payable increase Interest payable decrease 72,000 30,000 32,400 7,200 Net loss S(46,600) Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted shoule ndicated with a minus sign.)

Exercise 12-3 (Algo) Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the following Information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data S 95,000 Accounts receivable decrease $29,800 19,000 25,000 15,000 Revenues Purchased a machine for cash Expenses: Salaries expense Utilities expense Depreciation expense Interest expense Salaries payable increase Interest payable decrease 72,000 30,000 32,400 7,200 Net loss S(46,600) Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted shoule ndicated with a minus sign.)

FINANCIAL ACCOUNTING
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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Exercise 12-3 (Algo) Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the following Information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data $ 95,000 Accounts receivable decrease $29,000 19,000 25,000 15,000 Revenues Expenses: Salaries expense Utilities expense Depreciation expense Purchased a machine for cash 72,000 30,000 32,400 7,200 Salaries payable increase Interest payable decrease Interest expense Net loss $(46,600) 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.) Answer is not complete. Statement of Cash Flows (partial) Cash flows from operating activities Net loss Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense $ (46,600) 32,400 Changes in current assets and liabilities Accounts receivable decrease Salaries payable increase 29,000 25,000 Interest payable decrease (15,000) 24,800
Transcribed Image Text:Exercise 12-3 (Algo) Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the following Information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data $ 95,000 Accounts receivable decrease $29,000 19,000 25,000 15,000 Revenues Expenses: Salaries expense Utilities expense Depreciation expense Purchased a machine for cash 72,000 30,000 32,400 7,200 Salaries payable increase Interest payable decrease Interest expense Net loss $(46,600) 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.) Answer is not complete. Statement of Cash Flows (partial) Cash flows from operating activities Net loss Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense $ (46,600) 32,400 Changes in current assets and liabilities Accounts receivable decrease Salaries payable increase 29,000 25,000 Interest payable decrease (15,000) 24,800
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