Arundel Company disclosed the following information for its recent calendar year. Incone Statenent Data Selected Year-End Balance Sheet Data Revenues $ 90,000 Accounts receivable decrease %24 $ 25,000 Expenses: Salaries expense Utilities expense Depreciation expense Interest expense Purchased a machine for cash 70,000 Salaries payable increase 32,000 Interest payable decrease 31, 200 8,000 19,000 26,000 18,000 Net loss $ (51, 200) Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities-indirect method Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities
Arundel Company disclosed the following information for its recent calendar year. Incone Statenent Data Selected Year-End Balance Sheet Data Revenues $ 90,000 Accounts receivable decrease %24 $ 25,000 Expenses: Salaries expense Utilities expense Depreciation expense Interest expense Purchased a machine for cash 70,000 Salaries payable increase 32,000 Interest payable decrease 31, 200 8,000 19,000 26,000 18,000 Net loss $ (51, 200) Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities-indirect method Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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