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New Vision Company completed its income statement and balance sheet and provided the following information: Service Revenue $ 66,000 Expenses: Salaries and Wages $ 42,000
New Vision Company completed its income statement and balance sheet and provided the following information:
Service Revenue | $ | 66,000 | ||||
Expenses: | ||||||
Salaries and Wages | $ | 42,000 | ||||
Depreciation | 7,300 | |||||
Utilities | 6,000 | |||||
Office | 1,700 | 57,000 | ||||
Net Income | $ | 9,000 | ||||
Decrease in Accounts Receivable | $ | 12,000 | ||||
Paid cash for equipment | 5,000 | |||||
Increase in Salaries and Wages Payable | 9,000 | |||||
Decrease in Accounts Payable | 4,250 | |||||
Present the operating activities section of the statement of cash flows for New Vision Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
NEW VISION COMPANY | |
Cash Flows from Operating ActivitiesIndirect Method | |
Adjustments to Reconcile Net Income to Cash Provided by Operating Activities | |
Changes in Current Assets and Current Liabilities | |
$0 |
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