Exercise 17-12 The 2014 accounting records of Blocker Transport reveal these tra

Question

Exercise 17-12

The 2014 accounting records of Blocker Transport reveal these transactions and events.

A. Prepare the cash flows from operating activities section using the direct method.(2014)

Payment of interest $10,060 Collection of accounts receivable $181,470 Cash Sales 48,740 Payment of salaries and wages 53,880 Receipt of dividend revenue 18,340 Depreciation expense 15,750 Payment of income taxes 12,030 Proceeds from sale of vehicles 12,120 Net income 37,450 Purchase of equipment for cash 22,930 Payment od accounts payable Loss on disposal of vehicles 3,340 For merchandise 114,400 Payment of dividends 14,550 Payment for land 73,730 Payment of operating expenses 28,390

Explanation / Answer

Exercise 17-12 The 2014 accounting records of Blocker Transport reveal these tra

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