Hitchcock Exhibit Use the following selected date and additional information from the records of Hitchcock Corporation to answer the question that follows. Balance Sheet Data Accounts Receivable Inventories Prepaid Rent Accounts payable Salaries payable Taxes payable Income Statement Data Depreciation Expense Net Income 2004 2003 $50,000 $40,000 22,000 25,000 13,000 5,000 13,000 20,000 9,000 15,000 18,000 11,000 2004 6,000 50,000 Required: Prepare the Operating Activities section of the Statement of Cash Flows for the year ended 2004. Use the INDIRECT Method.

Hitchcock Exhibit Use the following selected date and additional information from the records of Hitchcock Corporation to answer the question that follows. Balance Sheet Data Accounts Receivable Inventories Prepaid Rent Accounts payable Salaries payable Taxes payable Income Statement Data Depreciation Expense Net Income 2004 2003 $50,000 $40,000 22,000 25,000 13,000 5,000 13,000 20,000 9,000 15,000 18,000 11,000 2004 6,000 50,000 Required: Prepare the Operating Activities section of the Statement of Cash Flows for the year ended 2004. Use the INDIRECT Method.

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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