Wayne Company reported net income of $265,00 for 2013 Wayne also reported depreciation expense of $45,000 and a loss of $8,000 on the sale of equipment The comparative balance sheet shows a decrease in accounts receivable of $15,000 for the year, a $17000 increase in accounts payable, and a $6,000 ...

WAYNE COMPANY Partial Statement of Cash flows For the year ended December 31 2013 Cash ...

Wayne Company reported net income of $265,00 for 2013. Wayne also reported depreciation expense of $45,000 and

Question:

Wayne Company reported net income of $265,00 for 2013. Wayne also reported depreciation expense of $45,000 and a loss of $8,000 on the sale of equipment. The comparative shows a decrease in of $15,000 for the year, a $17000 increase in accounts payable, and a $6,000 decrease in prepaid expenses.
Instructions
Prepare the operating activities section of the statement of cash flows for 2013. Use the indirect method.
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...