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Question 4 The following information is taken from the 2017 general ledger of Sweet Acacia Industries $48,000 9,440 11,840 Rent Rent expense Prepaid rent, January
Question 4 The following information is taken from the 2017 general ledger of Sweet Acacia Industries $48,000 9,440 11,840 Rent Rent expense Prepaid rent, January 1 Prepaid rent, December 31 $ 86,400 3,200 Salaries and wages payable, December 31 12,800 Salaries Salaries and wages expense Salaries and wages payable, January 1 $256,000 25,600 11,200 Sales Sales revenue Accounts receivable, January 1 Accounts receivable, December 31 In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the direct method Cash payments for rent Cash payments for salaries Cash receipts from customers
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