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plz help asap Required information E12-4 (Algo) Understanding the Computation of Cash Flows from Operating Activities (Indirect Method) [LO122] [The following information applies to the
plz help asap
Required information E12-4 (Algo) Understanding the Computation of Cash Flows from Operating Activities (Indirect Method) [LO122] [The following information applies to the questions displayed below.] Suppose your company selis services of $160 in exchange for $125 cash and $35 on account. Depreciation of $55 rolating to equipment aiso is recorded. 12-4 (Algo) Part 1 equired: Prepare the journal entries to record these transactions. (if no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the service revenue of $125 for cash and $35 on account. Notet Enter debits before credits. Requirea" in the tirst account nield.) Journal entry worksheet Record the service revenue of $125 for cash and $35 on account. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Required information E12-4 (Algo) Understanding the Computation of Cash Flows from Operating Activities (Indirect Method) [LO122] [The following information applies to the questions displayed below] Suppose your company sells services of $160 in exchange for $125 cash and $35 on account. Depreciation of $55 relating to equipment also is recorded. E12-4 (Algo) Part 2,3 and 4 2. Calculate the amount that should be reportod as net cash flow from opejating activities. . Calculate the amount that should be reported as net income. 4. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2). Complete this question by entering your answers in the tabs below. Calculate the amount that should be reported as net cash flow from operating activities. Required information E12-4 (Algo) Understanding the Computation of Cash Flows from Operating Activities (Indirect Method) [LO 12-2] [The following information applies to the questions displayed below] Suppose your company sells services of $160 in exchange for $125 cash and $35 on account. Depreciation of $55 relating to equipment also is recorded. E12-4 (Algo) Part 2, 3 and 4 2. Calculate the amount that should be reported as net cash flow from operating activities. 3. Calculate the amount that should be reported as net income. 4. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2 ). Complete this question by entering your answers in the tabs below. Calculate the amount that should be reported as net income. 2. Calculate the amount that should be reported as net cash flow from operating activities. 3. Calculate the amount that should be reported as net income. 4. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2). Complete this question by entering your answers in the tabs below. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2). (Amounts to be deducted should be indicated with a minus sign.) Step by Step Solution
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