The following information is taken from the 2014 general ledger of Okonedo Company. Instructions In each case,
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Instructions
In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the directmethod.
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40,000 5,600 9,000 $65,000 10,000 8,000 $170,000 19,000 7,000 Rent Rent expense Prepaid rent, January1 Prepaid rent, December 31 Salaries and wages expense Salaries and wages payable, January 1 Salaries and wages payable, December 3 Sales revenue Accounts receivable, January 1 Accounts receivable, December 31 Salaries Sales
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Cash payments for rent Rent expense 40000 Add Increase in prepaid rent 3400 ...View the full answer
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Related Book For
Managerial Accounting Tools for business decision making
ISBN: 978-1118096895
6th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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