Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please show the excel formual tonhelp me understand answers 1 563 OSA WNH 11 Shim Company presents its statement of cash flows using the indirect
please show the excel formual tonhelp me understand answers 1 563 OSA WNH 11 Shim Company presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from Shim's Year 2 and Ye 12 Account Title Accounts receivable Prepaid rent Interest receivable 10 Unearned revenue Accounts payable Salaries payable Year 2 $36,000 $2,400 $600 $9,300 $4,500 $3,600 Year 1 $37,200 $1,800 $400 22 Plus: 23 $10,400 $5,200 $5,400 The income statement reported a $1,500 gain on the sale of equipment, an $800 loss on the sale of land, and $3,600 of depreciation expense. Net income for the period was $47,300. 13 14 Required 15 Prepare the operating activities section of the statement of cash flows. 16 17 (Use the cells from the given information above to complete this question.) 18 (Cash outflows should be displayed as negative values.) 19 20 Cash flows from operating activities 21 $1,500 $800 $3,600 $47,300 Che C Lege G need Sc work 12. The income statement reported a 51,500 eain on the sale of equapment, an $300 loss on the sale of land, and $3,600 of depreciation expence. net income for the oertod was $47,300. 13 14. Required 15 Prepare the operating activines section of the statersent of cash flows. 16 17. (Use the cells from the goven information above to corrplete this question.) 1il (Cash outflows should be dinplayed as necartive values) 4 kequirea 5 Prepare the operating activities section of the statement of cash flows. 6 17 (Use the cells from the given information above to complete this question.) 18 (Cash outflows should be displayed as negative values.)
please show the excel formual tonhelp me understand answers
1 563 OSA WNH 11 Shim Company presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from Shim's Year 2 and Ye 12 Account Title Accounts receivable Prepaid rent Interest receivable 10 Unearned revenue Accounts payable Salaries payable Year 2 $36,000 $2,400 $600 $9,300 $4,500 $3,600 Year 1 $37,200 $1,800 $400 22 Plus: 23 $10,400 $5,200 $5,400 The income statement reported a $1,500 gain on the sale of equipment, an $800 loss on the sale of land, and $3,600 of depreciation expense. Net income for the period was $47,300. 13 14 Required 15 Prepare the operating activities section of the statement of cash flows. 16 17 (Use the cells from the given information above to complete this question.) 18 (Cash outflows should be displayed as negative values.) 19 20 Cash flows from operating activities 21 $1,500 $800 $3,600 $47,300 Che C Lege G need Sc work
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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