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Selected information from Pharoah Ltd . ' s statement of financial position and statement of income is as follows: Additional information: Prepaid expenses and property
Selected information from Pharoah Ltds statement of financial position and statement of income is as follows:
Additional information:
Prepaid expenses and property tax payable relate to other operating expenses.
Accounts payable relate to purchases of inventory.
Operating expenses included depreciation expense of $ and a loss of $ on the disposal of equipment.
Prepare the operating activities section of the statement of cash flows using the direct method.
PHAROAH LTD
Statement of Cash Flows Partial
For the Year Ended December
Cash Flows from Operating Activities
Cash Receipts from Customers
Cash Payments
For Income Tax
For Interest
To Suppliers
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