The following information pertains to Guys Gear Company: Required: Present the operating activities section of the statement
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Required:
Present the operating activities section of the statement of cash flows for Guys Gear Company using the indirectmethod.
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Sales Expenses $80,000 Cost of Goods Sold $50,000 6,000 12,000 Depreciation Expense 68,000 $12,000 Salaries Expense Net Income Accounts Receivable decrease Merchandise Inventory increase Salaries Payable increase $4,000 8,000 750
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Cash flows from operating activitiesindirect method Net income 12000 Adju...View the full answer
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Related Book For
Managerial Accounting
ISBN: 978-0078025518
2nd edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
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