MOSS COMPANY Selected Balance Sheet Information December 31, 2019 and 2018 2019 2018 Current assets $84,650 25,000 60,000 $26,800 32,000 54,100 Cash Accounts receivable Inventory Current liabilities Accounts payable Income taxes payable 30,400 2,050 25,700 2,200 MOSS COMPANY Income Statement For Year Ended December 31, 2019 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Other expenses Income before taxes Income taxes expense $ 515,000 331,600 183,400 $ 36,000 121,500 157,500 25,900 7,700 $ 18,200 Net income Jse the information above to calculate cash flows from operating activities using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)

MOSS COMPANY Selected Balance Sheet Information December 31, 2019 and 2018 2019 2018 Current assets $84,650 25,000 60,000 $26,800 32,000 54,100 Cash Accounts receivable Inventory Current liabilities Accounts payable Income taxes payable 30,400 2,050 25,700 2,200 MOSS COMPANY Income Statement For Year Ended December 31, 2019 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense Other expenses Income before taxes Income taxes expense $ 515,000 331,600 183,400 $ 36,000 121,500 157,500 25,900 7,700 $ 18,200 Net income Jse the information above to calculate cash flows from operating activities using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)

Name: 6. In-Class Activity iSavedMOSS COMPANYSelected Balance Sheet Informa
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Description: 6. In-Class Activity iSavedMOSS COMPANYSelected Balance Sheet InformationDecember 31, 2019 and 201820192018Current assetsCash$84,65025,00060,000$26,800Accounts receivable32,00054,100InventoryCurrent liabilitiesAccounts payableIncome taxes payable30,

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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Subject :- Accounting
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