Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I only need help with the ones that are blank, please explain how you found the number for customers so that I know. The 2020

I only need help with the ones that are blank, please explain how you found the number for customers so that I know.

image text in transcribed image text in transcribedimage text in transcribed

The 2020 accounting records of Blocker Transport reveal these transactions and events. Payment of interest Cash sales Receipt of dividend revenue Payment of income taxes $10,700 Collection of accounts receivable 49,600 Payment of salaries and wages 19,000 Depreciation expense 16,900 Proceeds from sale of vehicles 38,900 Purchase of equipment for cash Loss on sale of vehicles 114,300 Payment of dividends 74,800 Payment of operating expenses $191,000 58,000 16,600 11,800 21,300 3,600 13,300 27,700 Net income Payment of accounts payable for merchandise Payment for land 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 Dividend Revenue 19,000 Customers x" Less cash payments: For Salaries and Wages 58,000 > For Operating Expenses 27,700 For Income Taxes 16,900 For Interest 10,700

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting An Introduction to Concepts, Methods and Uses

Authors: Roman L. Weil, Katherine Schipper, Jennifer Francis

14th edition

978-1111823450, 1-133-36617-1 , 1111823456, 978-1-133-3661, 978-1133591023

More Books

Students also viewed these Accounting questions

Question

Let X have the Pareto pdf k-8k f(x;k, 0) = 0 x Answered: 1 week ago

Answered: 1 week ago