The 2022 accounting records of Sheridan Transport provide the following information.Payment of interestCash salesReceipt of dividend revenuePayment of income taxesNet incomePayment for merchandisePayment for landCollection of accounts receivableCash Flows from Operating ActivitiesCash receipts fromPrepare the cash flows from operating activities section using the direct method.Dividend RevenueLessV cash payments:For InterestFor Income TaxesTo Suppliers for MerchandiseFor Salaries and Wages$10,80050,90019,000For Operating Expenses15,70038,00097,60073,700195,200SHERIDAN TransportStatement of Cash Flows-Direct MethodFor the Year Ended December 31, 2022Payment of salaries and wagesDepreciation expenseProceeds from sale of vehiclesPurchase of equipment for cashLoss on sale of vehiclesPayment of dividendsPayment of operating expensesVNet Cash Provided by Operating Activities10,800i$$$56,90016.100812,10021,9003,10014,70027,600208,6001

Statement of cash flows records movement of cash for a particular period of time. It is the…

The 2022 accounting records of Sheridan Transport provide the following information. Payment of interest Cash sales Receipt of dividend revenue Payment of income taxes Net income Payment for merchandise Payment for land Collection of accounts receivable Cash Flows from Operating Activities Cash receipts from Dividend Revenue Less cash payments: For Interest For Income Taxes Prepare the cash flows from operating activities section using the direct method. To Suppliers for Merchandise For Salaries and Wages $10,800 For Operating Expenses 50,900 19,000 15,700 38,000 97,600 73,700 195.200 SHERIDAN Transport Statement of Cash Flows-Direct Method For the Year Ended December 31, 2022 v Payment of salaries and wages Depreciation expense Proceeds from sale of vehicles Purchase of equipment for cash Loss on sale of vehicles Payment of dividends Payment of operating expenses V Net Cash Provided by Operating Activities V 10.800 i $ $56,900 16,100 812.100 21,900 -208.600 3,100 14,700 27,600

The 2022 accounting records of Sheridan Transport provide the following information. Payment of interest Cash sales Receipt of dividend revenue Payment of income taxes Net income Payment for merchandise Payment for land Collection of accounts receivable Cash Flows from Operating Activities Cash receipts from Dividend Revenue Less cash payments: For Interest For Income Taxes Prepare the cash flows from operating activities section using the direct method. To Suppliers for Merchandise For Salaries and Wages $10,800 For Operating Expenses 50,900 19,000 15,700 38,000 97,600 73,700 195.200 SHERIDAN Transport Statement of Cash Flows-Direct Method For the Year Ended December 31, 2022 v Payment of salaries and wages Depreciation expense Proceeds from sale of vehicles Purchase of equipment for cash Loss on sale of vehicles Payment of dividends Payment of operating expenses V Net Cash Provided by Operating Activities V 10.800 i $ $56,900 16,100 812.100 21,900 -208.600 3,100 14,700 27,600

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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