Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate co $66,200
Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate co $66,200 Service Revenue Expenses: Salaries and Wages Depreciation Utilities Office Net Income Decrease in Accounts Receivable Paid cash for equipment Increase in Salaries and Wages Payable Decrease in Accounts Payable $42,200 7,320 6,100 1,720 57,340 $ 8,860 $12,200 5, 100 9,100 4,300 -20 Required: 1. Present the operating activities section of the statement of cash flows for New Vision Company using the direct method. Assume that Accounts Payable relate to Utilities and Office Expenses on the income statement. 2. If payments for salaries and wages were to increase by 10 percent throughout the year, by what dollar amount and in what direction would operating cash flows change? Answer is not complete. Complete this question by entering your answers in the tabs below. Redired 1 Required 2 Present the operating activities section of the statement of cash flows for New Vision Company using the direct method. Assume that Accounts Payable relate to Utilities and Office Expenses on the income statement. (Amounts to be deducted should be indicated with a minus sign.) Required: 1. Present the operating activities section of the statement of cash flows for New Vision Company using the that Accounts Payable relate to Utilities and Office Expenses on the income statement. 2. If payments for salaries and wages were to increase by 10 percent throughout the year, by what dollar am would operating cash flows change? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Present the operating activities section of the statement of cash flows for New Vision Company using the direct Assume that Accounts Payable relate to Utilities and Office Expenses on the income statement. (Amounts to be should be indicated with a minus sign.) NEW VISION COMPANY Cash Flows from Operating Activities-- Direct Method 78,400 $ 33,100 12,120 Cash Paid for Other Expenses Net Cash Provided by Operating Activities IS 123,620 Hans Required 2 >
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started