Thornton Company's income statement contained the condensed information below. THORNTON COMPANY Income Statement For the Year...
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Thornton Company's income statement contained the condensed information below. THORNTON COMPANY Income Statement For the Year Ended December 31, 2014 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income Accounts receivable Accounts payable Income taxes payable $1,824,808 163,460 47,552 2014 Thornton's balance sheet contained the comparative data at December 31. $2,882,840 $208,040 mor 121,852 38,636 2,035,820 847,020 166,432 $680,588 2013 $178,320 95,104 20,804 1274 Accounts payable pertain to operating expenses. Instructions: Prepare the operating activities section of the statement of cash flows using the indirect method. Thornton Company's income statement contained the condensed information below. THORNTON COMPANY Income Statement For the Year Ended December 31, 2014 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income Accounts receivable Accounts payable Income taxes payable $1,824,808 163,460 47,552 2014 Thornton's balance sheet contained the comparative data at December 31. $2,882,840 $208,040 mor 121,852 38,636 2,035,820 847,020 166,432 $680,588 2013 $178,320 95,104 20,804 1274 Accounts payable pertain to operating expenses. Instructions: Prepare the operating activities section of the statement of cash flows using the indirect method.
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THORNTON COMPANY Statement of Cash Flow Partial For the year ended December 31 2014 Cash Flow fro... View the full answer
Related Book For
Chemistry The Central Science
ISBN: 978-0321696724
12th edition
Authors: Theodore Brown, Eugene LeMay, Bruce Bursten, Catherine Murphy, Patrick Woodward
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