Question

The following information is taken from the 2014 general ledger of Praeger Company.
Rent Rent expense......................$ 30,000
Prepaid rent, January 1................. 5,900
Prepaid rent, December 31.................7, 400
Salaries Salaries and wages expense.................$ 54,000
Salaries and wages payable, January 1..............2,000
Salaries and wages payable, December 31...........8,000
Sales Sales revenue....................$160,000
Accounts receivable, January 1..............16,000
Accounts receivable, December 31............7,000
Instructions
In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the direct method.



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  • CreatedApril 07, 2014
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