Use the following information from Dubuque Company's financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018: 2018 Income Statement Balance Sheets $ 299,000 (135,000) (27,000) (17,000) Sales Cost of Goods Sold Operating Expenses, other than depreciation expense Depreciation Expense Gain on Sale of Plant Assets 16,500 Net Income 136,500 Accounts Receivable Inventory Accounts Payable Dec. 31, 2018 $45,300 1,600 22,500 Accrued Liabilities 900 Accounts Receivable Inventory Accounts Payable Accrued Liabilities Dec. 31, 2017 $43,400 1,800 21,250 1,150
Use the following information from Dubuque Company's financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018: 2018 Income Statement Balance Sheets $ 299,000 (135,000) (27,000) (17,000) Sales Cost of Goods Sold Operating Expenses, other than depreciation expense Depreciation Expense Gain on Sale of Plant Assets 16,500 Net Income 136,500 Accounts Receivable Inventory Accounts Payable Dec. 31, 2018 $45,300 1,600 22,500 Accrued Liabilities 900 Accounts Receivable Inventory Accounts Payable Accrued Liabilities Dec. 31, 2017 $43,400 1,800 21,250 1,150
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 5E: Cash flows from operating activitiesindirect method The net income reported on the income statement...
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