%24 Check my work New Vision Company completed its income statement and balance sheet and provided the following information: Service Revenue 006 Expenses: Salaries and Wages Depreciation Utilities $ 42,950 7,490 6,190 2,650 Office 59,280 Net Income $ 8,620 Decrease in Accounts Receivable Paid cash for equipment Increase in Salaries and Wages Payable Decrease in Accounts Payable 0069 006 5,200 Required: 1. Present the operating activities section of the statement of cash flows for New Vision Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) NEW VISION COMPANY Cash Flows from Operating Activities-Indirect Method Adjustments to Reconcile Net Income to Cash Provided by Operating Activities Changes in Current Assets and Current Liabilities
%24 Check my work New Vision Company completed its income statement and balance sheet and provided the following information: Service Revenue 006 Expenses: Salaries and Wages Depreciation Utilities $ 42,950 7,490 6,190 2,650 Office 59,280 Net Income $ 8,620 Decrease in Accounts Receivable Paid cash for equipment Increase in Salaries and Wages Payable Decrease in Accounts Payable 0069 006 5,200 Required: 1. Present the operating activities section of the statement of cash flows for New Vision Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) NEW VISION COMPANY Cash Flows from Operating Activities-Indirect Method Adjustments to Reconcile Net Income to Cash Provided by Operating Activities Changes in Current Assets and Current Liabilities
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
Section: Chapter Questions
Problem 9SPB: FINANCIAL RATIOS Use the work sheet and financial statements prepared in Problem 15-8B. All sales...
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Question
100%
![%24
Check my work
New Vision Company completed its income statement and balance sheet and
provided the following information:
Service Revenue
006
Expenses:
Salaries and Wages
Depreciation
Utilities
$ 42,950
7,490
6,190
2,650
Office
59,280
Net Income
$ 8,620
Decrease in Accounts Receivable
Paid cash for equipment
Increase in Salaries and Wages Payable
Decrease in Accounts Payable
0069
006
5,200
Required:
1. Present the operating activities section of the statement of cash flows for New
Vision Company using the indirect method. (Amounts to be deducted should be
indicated with a minus sign.)
NEW VISION COMPANY
Cash Flows from Operating Activities-Indirect Method
Adjustments to Reconcile Net Income to Cash
Provided by Operating Activities
Changes in Current Assets and Current Liabilities](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F090ff2df-8898-4c88-9583-09b4f9a6637c%2F708c5586-ce9f-4d22-84a8-04edebf12003%2Firw8id7.jpeg&w=3840&q=75)
Transcribed Image Text:%24
Check my work
New Vision Company completed its income statement and balance sheet and
provided the following information:
Service Revenue
006
Expenses:
Salaries and Wages
Depreciation
Utilities
$ 42,950
7,490
6,190
2,650
Office
59,280
Net Income
$ 8,620
Decrease in Accounts Receivable
Paid cash for equipment
Increase in Salaries and Wages Payable
Decrease in Accounts Payable
0069
006
5,200
Required:
1. Present the operating activities section of the statement of cash flows for New
Vision Company using the indirect method. (Amounts to be deducted should be
indicated with a minus sign.)
NEW VISION COMPANY
Cash Flows from Operating Activities-Indirect Method
Adjustments to Reconcile Net Income to Cash
Provided by Operating Activities
Changes in Current Assets and Current Liabilities
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