Anakin, Inc., provides the following account balances for 2015 and 2014: Using the format presented in the
Question:
Anakin, Inc., provides the following account balances for 2015 and 2014:
Using the format presented in the chapter, prepare the Operating Activities section of the statement of cash flows and present that information using
(a) The direct method and
(b) The indirect method.
Transcribed Image Text:
Dec. 31, 2015 Dec. 31, 2014 $15,500 27,200 22,400 1,350 Accounts Receivable Inventory Accounts Payable Salaries Payable Sales Cost of Goods Sold Depreciation Expense Salaries Expense Other Expenses 18,700 25,440 21,650 1,500 278,700 197,000 16,700 35,200 24,300
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Income Statement Adjustments Statement of Cash Flows Sales 278700 3200 275500 Cost of goods sold 19...View the full answer
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