problem 2 cash flow fabm 2 Problem 2The Taehyung Company reported the following condense profit or loss for 2020:P1,000,000580,000P 420,000SalesLess: Cost of Goods SoldGross ProfitLess: Operating expensesDepreciation expenseSalaries ExpenseProfitP 80,000120,000CashAccounts receivableInventoriesAccounts payable (trade)Salaries payable200,000P 220,000During 2020, the following changes occurred in the company's current assets and currentliabilities:Increase (Decrease)37,000(50,000)89,000(46,000)24,000Instruction: Prepare the operating activities section of Taehyung Company's Statement of CashFlows for the year ended 2020 using (a) indirect method and (b) direct method.

Meaning of Cash Flow Statement A cash flow statement is important for managing…

The Taehyung Company reported the following condense profit or loss for 2020: P1,000,000 Sales Less: Cost of Goods Sold Gross Profit Less: Operating expenses Depreciation expense Salaries Expense Profit P 80,000 120,000 Cash Accounts receivable Inventories Accounts payable (trade) Salaries payable 580,000 P 420,000 200,000 P 220,000 During 2020, the following changes occurred in the company's current assets and current liabilities: Increase (Decrease) 37,000 (50,000) 89,000 (46,000) 24,000 Instruction: Prepare the operating activities section of Taehyung Company's Statement of Cas Flows for the year ended 2020 using (a) indirect method and (b) direct method.

The Taehyung Company reported the following condense profit or loss for 2020: P1,000,000 Sales Less: Cost of Goods Sold Gross Profit Less: Operating expenses Depreciation expense Salaries Expense Profit P 80,000 120,000 Cash Accounts receivable Inventories Accounts payable (trade) Salaries payable 580,000 P 420,000 200,000 P 220,000 During 2020, the following changes occurred in the company's current assets and current liabilities: Increase (Decrease) 37,000 (50,000) 89,000 (46,000) 24,000 Instruction: Prepare the operating activities section of Taehyung Company's Statement of Cas Flows for the year ended 2020 using (a) indirect method and (b) direct method.

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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