The July accounting records of Carlson & Associates include these accounts: Requirement 1. Compute Carlson & Associates
Question:
Requirement
1. Compute Carlson & Associates net cash provided by operating activities during July. Use the indirectmethod.
Transcribed Image Text:
Cash 13,000 Payments 10,000 Accounts Receivable Jul 1 Receipts Jul 31 500,000 Jul 1 Sales Jul 31 497,000 15,000 Collections 489,000 497,000 7,000 Inventory Accounts Payable Jul 1 Purchases Jul 31 17,000 Cost of goods sold 335,000 Payments 345,000 Jul 1 347,000 29,000 19,000 347,000 21,000 Purchases Jul 31 Accumulated Depreciation Retained Earnings 53,000 Dividends 19,000 Jul 1 Jul 1 Depreciation expense 7,000 Jul 31 Net income Jul 31 64,000 61,000 06.000 60.000
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