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operating activities section of the statement of cash flows

operating activities section of the statement of cash flows

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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Problem 13-3A The income statement of Whitlock Company is presented here. WHITLOCK COMPANY Income Statement For the Year Ended November 30, 2017 Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Total cost of goods sold Gross profit Operating expenses Net income Additional information: $1,936,200 4,401,100 6,337,300 1,456,800 $7,426,700 4,880,500 2,546,200 1,148,400 $1,397,800 1. Accounts receivable increased $207,000 during the year, and inventory decreased $479,400. 2. Prepaid expenses increased $174,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $347,100 during the year. 4. Accrued expenses payable decreased $104,200 during the year. 5. Operating expenses include depreciation expense of $81,300. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2017, fo (15,000).)
Transcribed Image Text:Problem 13-3A The income statement of Whitlock Company is presented here. WHITLOCK COMPANY Income Statement For the Year Ended November 30, 2017 Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Total cost of goods sold Gross profit Operating expenses Net income Additional information: $1,936,200 4,401,100 6,337,300 1,456,800 $7,426,700 4,880,500 2,546,200 1,148,400 $1,397,800 1. Accounts receivable increased $207,000 during the year, and inventory decreased $479,400. 2. Prepaid expenses increased $174,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $347,100 during the year. 4. Accrued expenses payable decreased $104,200 during the year. 5. Operating expenses include depreciation expense of $81,300. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2017, fo (15,000).)
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