Question
2) The following information was taken from the financial records of the W Company. End of Year Beginning of Year Cash Rwf 345,000 Rwf 386,000
2) The following information was taken from the financial records of the W Company. End of Year Beginning of Year Cash Rwf 345,000 Rwf 386,000 Accounts Receivable 554,300 567,800 Merchandise Inventory 693,000 672,400 Prepaid Expenses 27,000 24,000 Accounts Payable (creditors) 510,000 527,400 Wages Payable 39,500 36,000 The net income reported on the income statement for the current year was Rwf 465,000, which included a gain on sale of investments of Rwf 3,000. Depreciation expense recorded on store equipment for the year amounted to Rwf 99,800. Required: Using the indirect method prepare the operating activities section
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