Atkin Corporation provides the following account balances for 2020 and 2021: December 21 December 20 Accounts receivable
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Question:
December 21 | December 20 | |
Accounts receivable | 138,000 | 96,000 |
Inventories | 206,000 | 168,000 |
Accounts payable | 90,000 | 68,000 |
Salaries Payable | 16,000 | 20,000 |
Sales | 536,000 | |
Cost of Goods Sold | 396,000 | |
Depreciation Expense | 22,000 | |
Salaries Expense | 18,000 | |
Other Expenses | 56,000 |
Requirements:
Prepare the operating activities section of the statement of cash flows under
(a) Direct method (5 points)
(b) Indirect method (5 points)
Related Book For
Posted Date: