Rodriguez Company completed its income statement and comparative balance sheet for the current year and provided the following information: Income Statement for Current Year Service revenue Expenses Salaries Depreciation Amortization of copyrights Other expenses Net loss Partial Balance Sheet Accounts receivable. Salaries payable Other accrued liabilities RODRIGUEZ COMPANY Statement of Cash Flows (Partial) $ 41,600 8,500 330 10,500 Cash flows from operating activities: Current Year $9,300. 13,300 1,500 $ 52,100 60,930 $ (8,830) In addition, Rodriguez bought a small service machine for $6,000. Required: 1. Present the operating activities section of the statement of cash flows for Rodriguez Company using the direct method. Assume that other accrued liabilities relate to other expenses on the income statement. Note: List cash outflows as negative amounts. Prior Year $ 16,100 2,900 5,500
Rodriguez Company completed its income statement and comparative balance sheet for the current year and provided the following information: Income Statement for Current Year Service revenue Expenses Salaries Depreciation Amortization of copyrights Other expenses Net loss Partial Balance Sheet Accounts receivable. Salaries payable Other accrued liabilities RODRIGUEZ COMPANY Statement of Cash Flows (Partial) $ 41,600 8,500 330 10,500 Cash flows from operating activities: Current Year $9,300. 13,300 1,500 $ 52,100 60,930 $ (8,830) In addition, Rodriguez bought a small service machine for $6,000. Required: 1. Present the operating activities section of the statement of cash flows for Rodriguez Company using the direct method. Assume that other accrued liabilities relate to other expenses on the income statement. Note: List cash outflows as negative amounts. Prior Year $ 16,100 2,900 5,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject: acounting
Transcribed Image Text:Rodriguez Company completed its income statement and comparative balance sheet for the current year and provided the following
information:
Income Statement for Current Year
Service revenue
Expenses
Salaries.
Depreciation
Amortization of copyrights
Other expenses.
Net loss
Partial Balance Sheet
Accounts receivable
Salaries payable
Other accrued liabilities
$ 41,600
8,500
330
10,500
RODRIGUEZ COMPANY
Statement of Cash Flows (Partial)
Current Year
$ 9,300
13,300
1,500
In addition, Rodriguez bought a small service machine for $6,000.
Cash flows from operating activities:
$ 52,100
Required:
1. Present the operating activities section of the statement of cash flows for Rodriguez Company using the direct method. Assume that
other accrued liabilities relate to other expenses on the income statement.
Note: List cash outflows as negative amounts.
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60,930
$ (8,830)
Prior Year
$ 16,100
2,900
5,500
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