Harold Company reports the following information for its recent calendar year. Sales . . . . .
Question:
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . $70,000
Expenses
Cost of goods sold . . . . . . . . . . . . . . . . . . 40,000
Salaries expense . . . . . . . . . . . . . . . . . . . . 12,000
Depreciation expense . . . . . . . . . . . . . . . . . 6,000
Net income . . . . . . . . . . . . . . . . . . . . . . . $12,000
Accounts receivable increase . . . . . . . . $ 9,000
Inventory decrease . . . . . . . . . . . . . . . . . . . 3,000
Salaries payable increase . . . . . . . . . . . . . . . 800
Required
Prepare the operating activities section of the statement of cash flows for Harold Company using the indirect method.
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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