Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the direct method. (Amounts to be deducted should be indicated with a minus sign.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Cash flows from operating activities Net cash flows from operating activities $ 0
Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the direct method. (Amounts to be deducted should be indicated with a minus sign.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Cash flows from operating activities Net cash flows from operating activities $ 0
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Portions of the financial statements for Peach Computer are provided below.
| PEACH COMPUTER | ||
| Income Statement | ||
| For the year ended December 31, 2024 | ||
| Net sales | $1,625,000 | |
|---|---|---|
| Expenses: | ||
| Cost of goods sold | $980,000 | |
| Operating expenses | 490,000 | |
| 43,000 | ||
| Income tax expense | 33,000 | |
| Total expenses | 1,546,000 | |
| Net income | $79,000 |
| PEACH COMPUTER | ||||
| Selected |
||||
| December 31 | ||||
| 2024 | 2023 | Increase (I) or Decrease (D) | ||
|---|---|---|---|---|
| Cash | $95,000 | $81,500 | $13,500 | (I) |
| Accounts receivable | 46,700 | 52,500 | 5,800 | (D) |
| Inventory | 68,000 | 51,500 | 16,500 | (I) |
| Prepaid rent | 2,300 | 3,600 | 1,300 | (D) |
| Accounts payable | 38,000 | 33,500 | 4,500 | (I) |
| Income tax payable | 4,300 | 6,500 | 2,200 | (D) |
Required:
Prepare the operating activities section of the statement of cash flows for Peach Computer using the direct method. (Amounts to be deducted should be indicated with a minus sign.)
Transcribed Image Text:Required:
Prepare the operating activities section of the statement of cash flows for Peach Computer using the direct method. (Amounts to be
deducted should be indicated with a minus sign.)
PEACH COMPUTER
Statement of Cash Flows (partial)
For the Year Ended December 31, 2024
Cash flows from operating activities
Net cash flows from operating activities
$
0
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