The following information pertains to Guy?s Gear Company: Required: Present the operating activities section of the statement

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The following information pertains to Guy?s Gear Company:

Required:

Present the operating activities section of the statement of cash flows for Guy?s Gear Company using the indirect method.

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Fundamentals of Financial Accounting

ISBN: 978-1259269868

5th Canadian edition

Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh

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Question Posted: Jan 17, 2020 03:04 PM

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The following information pertains to Guy?s Gear Company: Required: Present the operating activities section of the statement

Question:

$ 80,000 Sales Expenses: Cost of Goods Sold $50,000 Depreciation Expense 6,000 Salaries Expense 12,000 68,000 $ 12,000 Net Income $ 5,000 Accounts Receivable decrease Merchandise Inventory increase 8,000 Salaries Payable increase 500

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Cash flows from operating activities x indirect method Net income 12000 A...View the full answer

Fundamentals of Financial Accounting

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