Here are selected transactions in summary amount for Wiscosin Company for the year 2022: 4 Payment...
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Here are selected transactions in summary amount for Wiscosin Company for the year 2022: 4 Payment of interest Cash sales Payment of income taxes Payment of operating expenses Payment of accounts payable for merchandise Collection of accounts receivable Payment of salaries and wages 4 There is an increase in the amount ($20,000) of inventories at 31/12/22+ 4 Sales revenue COGS Gross Profit Operating Expenses Salaries & Wages Depreciation Other operating expenses Operating Income Dividend revenue Loss on sale of vehicles Interest expense Income before income tax SH 10,000+ The income statement for the company for the year ended 31/12/22 is appended Se Se Tax expense Net Income 48,000 8,000 28,000 105,000 162,000 58,000+ 4 67,000+ 16,000 15,000+ F 17,000+ 12,000 12,000 → 235,000 (81,000)+ 154,000 $2,000 72,000 (7,000)+ 65,000+ 11,000 54,000 Required: Using the indirect method, prepare the operating cash flow section of the statement of cash flows for Wiscosin Company for the year ended 31/12/2022. Here are selected transactions in summary amount for Wiscosin Company for the year 2022: 4 Payment of interest Cash sales Payment of income taxes Payment of operating expenses Payment of accounts payable for merchandise Collection of accounts receivable Payment of salaries and wages 4 There is an increase in the amount ($20,000) of inventories at 31/12/22+ 4 Sales revenue COGS Gross Profit Operating Expenses Salaries & Wages Depreciation Other operating expenses Operating Income Dividend revenue Loss on sale of vehicles Interest expense Income before income tax SH 10,000+ The income statement for the company for the year ended 31/12/22 is appended Se Se Tax expense Net Income 48,000 8,000 28,000 105,000 162,000 58,000+ 4 67,000+ 16,000 15,000+ F 17,000+ 12,000 12,000 → 235,000 (81,000)+ 154,000 $2,000 72,000 (7,000)+ 65,000+ 11,000 54,000 Required: Using the indirect method, prepare the operating cash flow section of the statement of cash flows for Wiscosin Company for the year ended 31/12/2022.
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Answer rating: 100% (QA)
To prepare the operating cash flow section of the statement of cash flows using the indirect method for the year ended 12312022 well start with net in... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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