The following information pertains to Guy?s Gear Company: Required: Present the operating activities section of the statement
Question:
The following information pertains to Guy?s Gear Company:
Required:
Present the operating activities section of the statement of cash flows for Guy?s Gear Company using the indirect method.
Transcribed Image Text:
$ 80,000 Sales Expenses: Cost of Goods Sold $50,000 Depreciation Expense 6,000 Salaries Expense 12,000 68,000 $ 12,000 Net Income $ 5,000 Accounts Receivable decrease Merchandise Inventory increase 8,000 Salaries Payable increase 500
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Cash flows from operating activities x indirect method Net income 12000 A...View the full answer
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Related Book For
Fundamentals of Financial Accounting
ISBN: 978-1259269868
5th Canadian edition
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
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