The 2014 accounting records of Rogan Transport reveal these transactions and eve

Question

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

Rogan Transport
Statement of Cash Flows—Direct Method
For the Year 2014

Payment of interest $ 21,940 Payment of salaries and wages $ 116,282 Cash sales 105,312 Depreciation expense 35,104 Receipt of dividend revenue 39,492 Proceeds from sale of vehicles 1,781,528 Payment of income taxes 26,328 Purchase of equipment for cash 48,268 Net income 83,372 Loss on sale of vehicles 6,582 Payment for merchandise 212,818 Payment of dividends 30,716 Payment for land 162,356 Payment of operating expenses 61,432 Collection of accounts receivable 427,830

Explanation / Answer

Cash flows from operating activities-DIRECT METHOD Cash received from customers 105,312+427,830 533142 Cash paid for merchandise 212,818 Cash paid for wages and other operating expenses 116,282+61,432 177714 Cash paid for interest 21940 Cash paid for taxes 26,328 Net cash provided by operating activities 94,342

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

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