You are given the following information extracted from the comparative Statement of Financial Position and Income Statement. 2020 2019 Accumulated Depreciation - Equipment (35000) (18000) Accounts Receivable 4000 16000 Accounts Payable 5000 19000 Net Income - 140000 Information related to sale of non-current assets is given below: Gains 900 Losses-1200 Required: Prepare the Operating Activities section of the Statement of Cash flows:

You are given the following information extracted from the comparative Statement of Financial Position and Income Statement. 2020 2019 Accumulated Depreciation - Equipment (35000) (18000) Accounts Receivable 4000 16000 Accounts Payable 5000 19000 Net Income - 140000 Information related to sale of non-current assets is given below: Gains 900 Losses-1200 Required: Prepare the Operating Activities section of the Statement of Cash flows:

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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