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Complete the Cash Flows from Operating Activities using the Indirect Method Cutter Comer's Corporation has the following 2020 Income statement Sales $2,000,000 COGS $1,200,000 Gross
| Complete the Cash Flows from Operating Activities using the Indirect Method | |||||||
| Cutter Comer's Corporation has the following 2020 Income statement | |||||||
| Sales | $2,000,000 | ||||||
| COGS | $1,200,000 | ||||||
| Gross Profit | $800,000 | ||||||
| Selling and Administartive Exp. | |||||||
| Salaries Expense | $140,000 | ||||||
| Insuranse Expense | $150,000 | ||||||
| Depretiation Expense | $210,000 | ||||||
| Net Income | $300,000 | ||||||
| The following accounts changed in 2020: | |||||||
| 2020 | 2019 | ||||||
| Inventory | $460,000 | $350,000 | |||||
| Accounts Receivable | $345,000 | $225,000 | |||||
| Accounts Payable | $650,000 | $520,000 | |||||
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Auditing and Assurance Services
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
6th edition
978-1259197109, 77632281, 77862341, 1259197107, 9780077632281, 978-0077862343
