Marigold Ltd. had the following 2023 income statement data: Revenues $102,000 Expenses 57,000 $45,000 In 2023,...

 

Transcribed Image Text:

Marigold Ltd. had the following 2023 income statement data: Revenues $102,000 Expenses 57,000 $45,000 In 2023, Marigold had the following activity in selected accounts: 1/1/23 Revenues 12/31/23 Accounts Receivable 18,100 102,000 21,940 1,160 Write-offs Collections 97,000 Write-offs Allowance for Expected Credit Losses 1,300 1,160 1,450 1,590 1/1/23 Loss on impairment 12/31/23 Prepare Marigold's cash flows from operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a negative sign e.g. -10,000 or in parenthesis e.g. (10,000).) Marigold Ltd. had the following 2023 income statement data: Revenues $102,000 Expenses 57,000 $45,000 In 2023, Marigold had the following activity in selected accounts: 1/1/23 Revenues 12/31/23 Accounts Receivable 18,100 102,000 21,940 1,160 Write-offs Collections 97,000 Write-offs Allowance for Expected Credit Losses 1,300 1,160 1,450 1,590 1/1/23 Loss on impairment 12/31/23 Prepare Marigold's cash flows from operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a negative sign e.g. -10,000 or in parenthesis e.g. (10,000).)

Answer rating: 100% (QA)

The cash flow from operating activities may be computed using the direct method or indirect method U... View the full answer