(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 )
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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I need help with the homework problem in E23.5 in accounting.

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)

Transcribed Image Text:Instuctions:
Prepare the oper, activita secttion of the statement
Of (ash flows using the dirpct method.
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