The following is accounting information taken from Woodrail Company's adjusted trial balance for 2019: Debit Credit $75,000 Sales Interest Revenue Cost of Goods Sold $43,600 Salaries Expense 13,600 Interest Expense 5,400 Income Tax Expense 3,000 In addition, the following changes occurred in selected accounts during 2019: Accounts Receivable $5,700 credit 9,800 debit 7,000 credit 900 4,300 Inventory Accounts Payable Salaries Payable Interest Payable Required: Using the direct method, prepare the cash flows from operating activities section of the 2019 statement of cash flows for Woodrail. Use a minus sign to indicate cash outflows, a decrease in cash or cash payments. WOODRAIL COMPANY Statement of Cash Flows (Partial) For Year Ended December 31, 2019 Operating Activities: Cash Inflows: 300 debit credit Cash inflows from operating activities Cash Outflows: $fill in the blank 2 fill in the blank 4 $fill in the blank 7 fill in the blank 9 fill in the blank 11 fill in the blank 13 $fill in the blank 5

The following is accounting information taken from Woodrail Company's adjusted trial balance for 2019: Debit Credit $75,000 Sales Interest Revenue Cost of Goods Sold $43,600 Salaries Expense 13,600 Interest Expense 5,400 Income Tax Expense 3,000 In addition, the following changes occurred in selected accounts during 2019: Accounts Receivable $5,700 credit 9,800 debit 7,000 credit 900 4,300 Inventory Accounts Payable Salaries Payable Interest Payable Required: Using the direct method, prepare the cash flows from operating activities section of the 2019 statement of cash flows for Woodrail. Use a minus sign to indicate cash outflows, a decrease in cash or cash payments. WOODRAIL COMPANY Statement of Cash Flows (Partial) For Year Ended December 31, 2019 Operating Activities: Cash Inflows: 300 debit credit Cash inflows from operating activities Cash Outflows: $fill in the blank 2 fill in the blank 4 $fill in the blank 7 fill in the blank 9 fill in the blank 11 fill in the blank 13 $fill in the blank 5

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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