Question: Need help filling in the columns with numbers. Problem 11-3A Calculate operating activities - indirect method (L011-2) Portions of the financial statements for Alliance Technologies

Need help filling in the columns with numbers.

Need help filling in the columns with numbers. Problem 11-3A Calculate operatingactivities - indirect method (L011-2) Portions of the financial statements for Alliance

Problem 11-3A Calculate operating activities - indirect method (L011-2) Portions of the financial statements for Alliance Technologies are provided below ALLIANCE TECHNOLOGIES Income Statement For the year ended December 31, 2018 $ 300,000 Net sales Expenses Cost of goods sold Operating expenses Depreciation expense Income tax expense $180,000 55,000 15,500 19,500 Total expenses 270,000 Net income $ 30,000 ALLIANCE TECHNOLOGIES Selected Balance Sheet Data December 31, 2018, compared to December 31, 2017 Decrease in accounts receivable Increase in inventory Decrease in prepaid rent Increase in salaries payable Decrease in accounts payable Increase in income tax payable $ 5,500 12,500 8,500 4,500 7,500 18,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!