Question: For each of the following independent cases compute cash flows
For each of the following independent cases, compute cash flows from operating activities using the direct method. Assume the list below includes all items relevant to operatingactivities.
Answer to relevant QuestionsRefer to the two cases presented in M12-5, and show the cash flow from operating activities section of the 2013 statement of cash flows using the directmethod.Suppose your company sells services of $150 in exchange for $120 cash and $30 on account.Depreciation of $50 also is recorded.Required:1. Show the journal entries to record these transactions.2. Calculate the amount that ...Consultex, Inc., was founded in 2010 as a small financial consulting business. The company had done reasonably well in 2010–2012, but started noticing its cash dwindle early in 2013. In January 2013, Consultex had paid ...AMC Entertainment operates 380 movie theaters in the United States, Canada, and Europe.During fiscal 2008, the company sold its Fandango assets for $20,360,000 cash and recorded a gain on disposal of $18,360,000, which was ...Heads Up Company was started several years ago by two hockey instructors. The company’s comparative balance sheets and income statement follow, along with additional information.Additional Data:a. Bought new hockey ...
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