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Suppose your company reports $255 of net income and $59 of cash dividends paid, and its comparative balance sheet indicates the following. Cash Accounts Receivable Inventory Total Salaries and Wages Payable. Common Stock Retained Earnings Total Beginning $ 54 170 340 $ 564 $ 29 Net Income Increase in Accounts Receivable Decrease in Inventory Increase in Salaries and Wages Payable Net Cash Flow from Operating Activities 195 340 $.564 Ending $ 294 264 224 $ 782 $ 145 101 536 $782 Required: 1. 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.

Suppose your company reports $255 of net income and $59 of cash dividends paid, and its comparative balance sheet indicates the following. Cash Accounts Receivable Inventory Total Salaries and Wages Payable. Common Stock Retained Earnings Total Beginning $ 54 170 340 $ 564 $ 29 Net Income Increase in Accounts Receivable Decrease in Inventory Increase in Salaries and Wages Payable Net Cash Flow from Operating Activities 195 340 $.564 Ending $ 294 264 224 $ 782 $ 145 101 536 $782 Required: 1. 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.

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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Suppose your company reports $255 of net income and $59 of cash dividends paid, and its comparative balance sheet indicates the following. Cash Accounts Receivable Inventory Total Salaries and Wages Payable Common Stock Retained Earnings Total Beginning. $ 54 170 340 $ 564 $ 29 Net Income Increase in Accounts Receivable Decrease in Inventory Increase in Salaries and Wages Payable Net Cash Flow from Operating Activities 195 340 $ 564 Ending $ 294 264 224 $782 $ 145 101 536 $782 Required: 1. 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.
Transcribed Image Text:Suppose your company reports $255 of net income and $59 of cash dividends paid, and its comparative balance sheet indicates the following. Cash Accounts Receivable Inventory Total Salaries and Wages Payable Common Stock Retained Earnings Total Beginning. $ 54 170 340 $ 564 $ 29 Net Income Increase in Accounts Receivable Decrease in Inventory Increase in Salaries and Wages Payable Net Cash Flow from Operating Activities 195 340 $ 564 Ending $ 294 264 224 $782 $ 145 101 536 $782 Required: 1. 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.
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