Use the following excerpts from Swansea Companys financial information to prepare the operating section of the statement
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Use the following excerpts from Swansea Company’s financial information to prepare the operating section of the statement of cash flows (direct method) for the year 2018.
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Sales Cost of Goods Sold Operating Expenses, other than depreciation expense Depreciation Expense Loss on Sale of Plant Assets Net Income Accounts Receivable (associated with Sales) Inventory (associated with Inventory) Accounts Payable (associated with Inventory) Accrued Liabilities (associated with Other Expense) Accounts Receivable (associated with Sales) Inventory (associated with Inventory) Accounts Payable (associated with Inventory) Accrued Liabilities (associated with Other Expense) 2018 Income Statement $ 777,000 (555,000) (22,000) (44,000) (11,000) 145,000 Balance Sheets Dec. 31, 2018 $63,300 2,400 35,000 2,100 Dec. 31, 2017 $63,000 2,800 37,400 2,650
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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