During the year, Makenzie Company earned a net income of $36,150. Beginning and ending balances for the
Question:
There were no financing or investing activities for the year. The above balances reflect all of the adjustments needed to adjust net income to operating cash flows.
Required:
Prepare a schedule of operating cash flows by using the indirectmethod.
Transcribed Image Text:
Acco unt Balance Beginning Ending Cash Accounts receivable Inventory Prepaid expenses Accumulated depreciation Accounts payable Wages payable $72,000 45,000 24,000 18,000 54,000 30,000 18,000 $90,000 64,500 33,900 12,000 61,000 36,750 12,000
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Cash flows from operating activities Operating net income 36150 Add ...View the full answer
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Related Book For
Cornerstones of Managerial Accounting
ISBN: 978-0324660135
3rd Edition
Authors: Mowen, Hansen, Heitger
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