Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Exercise 17-13 Your answer is partially correct. Try again. The 2020 accounting records of Blocker Transport reveal these transactions and events. Payment of interest $10,700
Exercise 17-13 Your answer is partially correct. Try again. The 2020 accounting records of Blocker Transport reveal these transactions and events. Payment of interest $10,700 Collection of accounts receivable $189,900 Cash sales 49,600 Payment of salaries and wages 57,300 Receipt of dividend revenue 17,000 Depreciation expense 16,100 Payment of income taxes 15,400 Proceeds from sale of vehicles 11,400 Net income 37,500 Purchase of equipment for cash 21,900 Payment of accounts payable Loss on sale of vehicles 2,300 for merchandise 115,000 Payment of dividends 14,100 Payment for land 74,600 Payment of operating expenses 28,000 Prepare the cash flows from operating activities section using the direct method. (Not all of the items will be used.) Blocker Transport Statement of Cash Flows-Direct Method For the Year Ended December 31, 2020 Cash Flows from Operating Activities Cash receipts from 49600 Customers 189900 17000 Less cash payments: -57300 -15400 > -15400 For Interest -10700 For Income Taxes -28000 30100 Net Cash Provided by Operating Activities v Click if you would like to show Work for this question: Open Show Work
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