Azure Corporation had the following 2008 income statement. The following accounts increased during 2008: accounts receivable $17,000;

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Azure Corporation had the following 2008 income statement.

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The following accounts increased during 2008: accounts receivable $17,000; inventory $11,000; accounts payable $13,000. Prepare the cash flows from operating activities section of Azure’s 2008 statement of cash flows using the direct method.

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Intermediate Accounting 2007 FASB Update Volume 2

ISBN: 9780470128763

12th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Question Posted: Jun 27, 2024 02:00 AM

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Azure Corporation had the following 2008 income statement. The following accounts increased during 2008: accounts receivable $17,000;

Question:

Sales Cost of goods sold Gross profit Operating expenses (includes depreciation of $21,000) Net income $200,000 120,000 80,000 50,000 $ 30,000

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Intermediate Accounting 2007 FASB Update Volume 2

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