The following information pertains to Guy\'s Gear Company Sales Expenses $79,000

Question

The following information pertains to Guy's Gear Company Sales Expenses $79,000 Cost of Goods Sold Depreciation Expense Salaries and Wages Expense $ 49,500 5,900 11,900 67,300 Net Income $11,700 $ 3,900 7,900 740 Accounts Receivable Decrease Inventory Increase Salaries and Wages Payable Increase Required Present the operating activities section of the statement of cash flows for Guy's Gear Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) GUY'S GEAR COMPANY Cash Flow from Operating Activities Indirect Method Adjustments to Reconcile Net Income to Cash Provided by Operating Activities Changes in Crrt Assets and Current Liabilities

Explanation / Answer

Particulars Amt Net Income 11700 Add: Depreciation 5900 Net profit before change in working capital 17600 Add: Decrease in account receivables 3900 Add: increase in salary payable 740 Less: increase in inventory 7900 Cash flow from operating activities 14340

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.