Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The 2015 accounting records of Outdoor Adventures Ltd reveal the following transactions and events. Payment of interest Cash sales Receipt of dividend revenue Payment of

image text in transcribedimage text in transcribed

The 2015 accounting records of Outdoor Adventures Ltd reveal the following transactions and events. Payment of interest Cash sales Receipt of dividend revenue Payment of income tax Profit Payment of accounts payable for inventory Payment for land Collection of accounts receivable Payment of salaries and wages Depreciation expense Proceeds from sale of aircraft Purchase of equipment for cash Loss on sale of aircraft Payment of dividends Payment of operating expenses $14,800 59,200 14,000 15,500 37,300 99,700 72,600 191,200 68,300 15,400 787,300 21,400 2,800 14,100 19,200 Required Prepare the cash flows from operating activities section of the statement of cash flows using the direct method. (Not all of the items will be used.) (Show amounts that decrease cash flow with either a negative sign preceding the number e.g. -15,000 or in parentheses e.g. (15,000).) Outdoor Adventures Ltd Partial statement of cash flows for the year ended 31 December 2015 Cash flows from operating activities Cash receipts from: Customers (Show amounts that decrease cash flow with either a negative sign preceding the number e.g. -15,000 or in parentheses e.g. (15,000).) Outdoor Adventures Ltd Partial statement of cash flows for the year ended 31 December 2015 Cash flows from operating activities Cash receipts from: Customers + $ Cash payments: Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The ASQ Auditing Handbook

Authors: J. P. Russell

3rd Edition

0873896661, 978-0873896665

More Books

Students also viewed these Accounting questions