Exercise 12-13 Z Your answer is partially correct. Try again. The 2019 accounting records of Cheyenne Corp. reveal these transactions and events. Payment of interest Cash sales $ 10,100 Collection of accounts receivable 49,900 Payment of salaries and wages $189,900 56,200 Receipt of dividend revenue 18,400 Depreciation expense Payment of income taxes 15,100 Proceeds from sale of vehicles 15,400 12,200 Net income 38,100 Purchase of equipment for cash 21,200 Payment of accounts payable Loss on sale of vehicles 2,300 for merchandise Payment for land 115,800 Payment of dividends 74,300 Payment of operating expenses 13,100 28,000 Prepare the cash flows from operating activities section using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Cheyenne Corp. Statement of Cash Flows-Direct Method 2019 Cash Flows from Operating Activities Cash receipts from Cash Flows from Operating Activities Cash receipts from Customers 49900 Customers 189900 239800 Less cash payments: For Salaries and Wages 56200 To Suppliers for Merchandise 115800 For Income Taxes 15100 For Operating Expenses 28000 For Interest 10100 225200 Net Cash Provided by Operating Activities + 14600

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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Choices are: Net income, Depreciation expense, purchase of equipment for cash, proceeds from disposal of plant assets, for interest, loss on disposal of vehicles, for land, customers, for income taxes, dividend revenues, to suppliers for merchandise, for salaries and wages, for operating expenses.

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Exercise 12-13
Z Your answer is partially correct. Try again.
The 2019 accounting records of Cheyenne Corp. reveal these transactions and events.
Payment of interest
Cash sales
$ 10,100 Collection of accounts receivable
49,900 Payment of salaries and wages
$189,900
56,200
Receipt of dividend revenue
18,400 Depreciation expense
Payment of income taxes
15,100 Proceeds from sale of vehicles
15,400
12,200
Net income
38,100 Purchase of equipment for cash
21,200
Payment of accounts payable
Loss on sale of vehicles
2,300
for merchandise
Payment for land
115,800 Payment of dividends
74,300 Payment of operating expenses
13,100
28,000
Prepare the cash flows from operating activities section using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Cheyenne Corp.
Statement of Cash Flows-Direct Method
2019
Cash Flows from Operating Activities
Cash receipts from

Cash Flows from Operating Activities
Cash receipts from
Customers
49900
Customers
189900
239800
Less
cash payments:
For Salaries and Wages
56200
To Suppliers for Merchandise
115800
For Income Taxes
15100
For Operating Expenses
28000
For Interest
10100
225200
Net Cash Provided by Operating Activities +
14600

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