Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Revenues $ 80,000 Accounts receivable decrease $ 25,000 Expenses: Purchased a machine for cash 18,000 Salaries expense 71,000 Salaries payable increase 23,000 Utilities expense 31,000 Interest payable decrease 16,000 Depreciation expense 29,800 Interest expense 7,200 Net loss $ (59,000)
Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Revenues $ 80,000 Accounts receivable decrease $ 25,000 Expenses: Purchased a machine for cash 18,000 Salaries expense 71,000 Salaries payable increase 23,000 Utilities expense 31,000 Interest payable decrease 16,000 Depreciation expense 29,800 Interest expense 7,200 Net loss $ (59,000)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Prepare the operating activities section of the statement of
Note: Amounts to be deducted should be indicated with a minus sign.
Arundel Company disclosed the following information for its recent calendar year.
| Income Statement Data | Selected Year-End |
||
| Revenues | $ 80,000 | $ 25,000 | |
| Expenses: | Purchased a machine for cash | 18,000 | |
| Salaries expense | 71,000 | Salaries payable increase | 23,000 |
| Utilities expense | 31,000 | Interest payable decrease | 16,000 |
| 29,800 | |||
| Interest expense | 7,200 | ||
| Net loss | $ (59,000) |
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