The following information pertains to Peak Heights Company: Income Statement for Current Year Sales $ 86,100
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Question:
The following information pertains to Peak Heights Company:
Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method. (List cash outflows as negative amounts.) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Partial Balance Sheet | Current year | Prior year | ||
Accounts receivable | $ | 10,100 | $ | 12,100 |
Inventory | 12,200 | 8,600 | ||
Salaries payable | 1,580 | 900 | ||
Required:
Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method. (List cash outflows as negative amounts.)
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Related Book For
Financial Accounting
ISBN: 978-0078025556
8th edition
Authors: Robert Libby, Patricia Libby, Daniel Short
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