Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

JUST IN CASE TECHNOLOGIES Income Statement For the Year Ended December 31, 2024 Net sales Expenses: Cost of goods sold Operating expenses Depreciation expense Income

JUST IN CASE TECHNOLOGIES Income Statement For the Year Ended December 31, 2024 Net sales Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income JUST IN CASE TECHNOLOGIES Selected Balance Sheet Data December 31, 2024, compared to December 31, 2023 Decrease in accounts receivable Increase in inventory Decrease in prepaid rent Increase in salaries payable Decrease in accounts payable Increase in income tax payable $235,000 70,000 17,000 27,000 JUST IN CA $405,000 LOGIrr 349,000 $ 56,000 $ Required: Prepare the operating activities section of the statement of cash flows for Just In Case Technologies using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) 7,000 14,000 10,000 6,000 9,000 24,000
image text in transcribed
Required: Pigpter the operating activities section of the statement of cash flows for Just in Cose Technologies using the indirect mothod (Amounts to be deducted should be indicated with a minus sign.)

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

Auditing A Risk Based Approach

Authors: Karla M Johnstone-Zehms, Audrey A. Gramling, Larry E. Rittenberg

12th Edition

035772187X, 978-0357721872

More Books

Students also viewed these Accounting questions