Hampton Company reports the following information for its recent calendar year. Prepare the operating activities section of the statement of cash flows using the indirect method. Income Statement Data Selected Year-End Balance Sheet Data Sales.... $160,000 Accounts receivable increase... Inventory decrease.... Salaries payable increase.. $10,000 Expenses: Cost of goods sold.. Salaries expense. 100,000 16,000 24,000 1,000 Depreciation expense. 12,000 Net income... $ 24,000
Hampton Company reports the following information for its recent calendar year. Prepare the operating activities section of the statement of cash flows using the indirect method. Income Statement Data Selected Year-End Balance Sheet Data Sales.... $160,000 Accounts receivable increase... Inventory decrease.... Salaries payable increase.. $10,000 Expenses: Cost of goods sold.. Salaries expense. 100,000 16,000 24,000 1,000 Depreciation expense. 12,000 Net income... $ 24,000
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 15E
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