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(Pre faration of Opein ting Activit, section-Dipect imethod) Krauss company's income statement for the year ended PeG 31,2020, Contained the following Condensed intor Service Revenye OPerating expenses (to exclude deprec.) $624,000 DPPrec, expense Loss on Sale of equie. Income before In come Taxes Income Tax Expense Krusss balance sheet contained the following ComParative data of Dec.31. 2011. Accounts Receiv. AcCounts PaY. Income Taxes Pa Y. CAccounts Pay. Pertains in Operri expenses )

(Pre faration of Opein ting Activit, section-Dipect imethod) Krauss company's income statement for the year ended PeG 31,2020, Contained the following Condensed intor Service Revenye OPerating expenses (to exclude deprec.) $624,000 DPPrec, expense Loss on Sale of equie. Income before In come Taxes Income Tax Expense Krusss balance sheet contained the following ComParative data of Dec.31. 2011. Accounts Receiv. AcCounts PaY. Income Taxes Pa Y. CAccounts Pay. Pertains in Operri expenses )

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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I need help with the homework problem in E23.5 in accounting.

(PreParation pf apernting Activit, section-Direct anethad) Krauss company's income statenment for the year ended PeG 31,2020, Contained the following Condensed into. Service Revenye OPerating expenses (to exclude deprec) $624,000 DPPrec expense ०१८ 26,000 7 Jonon Income betore In come Ta xes Income Tax EXpense $1g,000 Krusss balance sheet contained the following Comparative data of Dec.31. 2020 019 Accounts Receiv. Accounts PaY. 0000 Income Taxes PaY. 200 CACCounts PaY. Pertains in Oper. expenses)
Transcribed Image Text:(PreParation pf apernting Activit, section-Direct anethad) Krauss company's income statenment for the year ended PeG 31,2020, Contained the following Condensed into. Service Revenye OPerating expenses (to exclude deprec) $624,000 DPPrec expense ०१८ 26,000 7 Jonon Income betore In come Ta xes Income Tax EXpense $1g,000 Krusss balance sheet contained the following Comparative data of Dec.31. 2020 019 Accounts Receiv. Accounts PaY. 0000 Income Taxes PaY. 200 CACCounts PaY. Pertains in Oper. expenses)
Instuctions: Prepare the oper, activita secttion of the statement Of (ash flows using the dirpct method.
Transcribed Image Text:Instuctions: Prepare the oper, activita secttion of the statement Of (ash flows using the dirpct method.
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