Question
Account Beginning Balance Ending Balance Cash $5,500 $3,500 Accounts Receivable 18,000 13,000 Merchandise Inventory 22,000 25,000 Accounts Payable 13,000 17,500 Accumulated Depreciation Equipment Retained Earnings
| Account | Beginning Balance | Ending Balance |
| Cash | $5,500 | $3,500 |
|---|---|---|
| Accounts Receivable | 18,000 | 13,000 |
| Merchandise Inventory | 22,000 | 25,000 |
| Accounts Payable | 13,000 | 17,500 |
| Accumulated Depreciation |
| |||||||
| Equipment |
| Retained Earnings | ||||||
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| 52,000 | Jul. 1 |
| 62,000 | Jul. 1 | |||
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| 3,500 | Depr. Exp. | Dividends | 19,000 | 45,000 | Net Inc. | |
|
| 55,500 | Jul. 31 |
| 88,000 | Jul. 31 | |||
compute
DVD's
net cash provided by (used for) operating activities during
July
2024.
Use the indirect method. (Use a minus sign or parentheses for amounts that result in a decrease in cash and to show net cash used for operating activities. If a box is not used in the table leave the box empty; do not select a label or enter a zero.)
| DVD Sales, Inc. |
| Statement of Cash Flows (Partial) |
| For the Month Ended July 2024 |
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| Cash Flows from Operating Activities: |
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| Net Income |
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| Adjustments to Reconcile Net Income to Net Cash |
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| Provided by (Used for) Operating Activities: |
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The Routledge Companion To Accounting And Risk
Authors: Margaret Woods
1st Edition
1138860123, 9781138860124
