New Vision Company completed its income statement and balance sheet and provided the following information: Service...

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New Vision Company completed its income statement and balance sheet and provided the following information: Service Revenue $67,600 Expenses: Salaries and Wages Depreciation Utilities. $43,600 7,460 6,800 office 1,860 59,720 Net Income $7,880 Decrease in Accounts Receivable $13,600 Paid cash for equipment Increase in Salaries and Wages Payable 5,800 9,800 4,650 Decrease in Accounts Payable Required: 1. Present the operating activities section of the statement of cash flows for New Vision Company using the direct method. Assume that Accounts Payable relate to Utilities and Office Expenses on the income statement. es 2. If payments for salaries and wages were to increase by 10 percent throughout the year, by what dollar amount and in what direction would operating cash flows change? Complete this question by entering your answers in the tabs below. Required 1 Required 2 4 If payments for salaries and wages were to increase by 10 percent throughout the year, by what dollar amount and in what direction would operating cash flows change? Operating Cash Flows < Required 1 Requi New Vision Company completed its income statement and balance sheet and provided the following information: Service Revenue $67,600 Expenses: Salaries and Wages Depreciation Utilities. $43,600 7,460 6,800 office 1,860 59,720 Net Income $7,880 Decrease in Accounts Receivable $13,600 Paid cash for equipment Increase in Salaries and Wages Payable 5,800 9,800 4,650 Decrease in Accounts Payable Required: 1. Present the operating activities section of the statement of cash flows for New Vision Company using the direct method. Assume that Accounts Payable relate to Utilities and Office Expenses on the income statement. es 2. If payments for salaries and wages were to increase by 10 percent throughout the year, by what dollar amount and in what direction would operating cash flows change? Complete this question by entering your answers in the tabs below. Required 1 Required 2 4 If payments for salaries and wages were to increase by 10 percent throughout the year, by what dollar amount and in what direction would operating cash flows change? Operating Cash Flows < Required 1 Requi

Answer rating: 100% (QA)

Solutions Calculation of cash flow from operating activities by using Excel sheet ... View the full answer