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PAS. LO 16.3 Use the following information from Dubuque Company's financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. From the Dec. 31 2018 balance sheet, changes from prior year: Accounts Receivable Inventory Prepaid Insurance Accounts Payable $7.600 3,200 (2.000) (4,000) Page 3 of 14 OpenStax Principles of Accounting, Volume 1: Financial Accounting Chapter 16: Statement of Cash Flows Sales Tax Payable From the 2018 Income Statement: 1,900 Gain from sale of investments Depreciation Expense Net Income 12,000 26,500 79,300 Solution Operating Activities: Net Income Depreciation Expense Gain from sale of investments Accounts Receivable Inventory Prepaid Insurance Accounts Payable Sales Tax Payable Net cash flows from operating activities

PAS. LO 16.3 Use the following information from Dubuque Company's financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. From the Dec. 31 2018 balance sheet, changes from prior year: Accounts Receivable Inventory Prepaid Insurance Accounts Payable $7.600 3,200 (2.000) (4,000) Page 3 of 14 OpenStax Principles of Accounting, Volume 1: Financial Accounting Chapter 16: Statement of Cash Flows Sales Tax Payable From the 2018 Income Statement: 1,900 Gain from sale of investments Depreciation Expense Net Income 12,000 26,500 79,300 Solution Operating Activities: Net Income Depreciation Expense Gain from sale of investments Accounts Receivable Inventory Prepaid Insurance Accounts Payable Sales Tax Payable Net cash flows from operating activities

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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PAS. LO 16.3 Use the following information from Dubuque Company's financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. From the Dec. 31 2018 balance sheet, changes from prior year: Accounts Receivable Inventory Prepaid Insurance Accounts Payable $7.600 3,200 (2,000) (4,000) Page 3 of 14 OpenStax Principles of Accounting, Volume 1: Financial Accounting Chapter 16: Statement of Cash Flows Sales Tax Payable From the 2018 Income Statement: Gain from sale of investments Depreciation Expense Net Income 1,900 12,000 26,500 79,300 Solution Operating Activities: Net Income Depreciation Expense Gain from sale of investments Accounts Receivable Inventory Prepaid Insurance Accounts Payable Sales Tax Payable Net cash flows from operating activities
Transcribed Image Text:PAS. LO 16.3 Use the following information from Dubuque Company's financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. From the Dec. 31 2018 balance sheet, changes from prior year: Accounts Receivable Inventory Prepaid Insurance Accounts Payable $7.600 3,200 (2,000) (4,000) Page 3 of 14 OpenStax Principles of Accounting, Volume 1: Financial Accounting Chapter 16: Statement of Cash Flows Sales Tax Payable From the 2018 Income Statement: Gain from sale of investments Depreciation Expense Net Income 1,900 12,000 26,500 79,300 Solution Operating Activities: Net Income Depreciation Expense Gain from sale of investments Accounts Receivable Inventory Prepaid Insurance Accounts Payable Sales Tax Payable Net cash flows from operating activities
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