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    Devry University
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  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Management Posted 15 Dec 2017 My Price 10.00

statement of cash flows under the direct method

The following information is taken from the 2017 general ledger of AJ Company.

Sales:               Sales Revenue                                                 $ 200,000

Accounts receivable, January 1                              36,000

Accounts receivable, December 31                                       10,000

CGS:                 Cost of goods sold                                                           $120,000

Accounts payable, January 1                                  16,000

Accounts payable, December 31                        20,000

Inventory, January 1                                                            26,000

Inventory, December 31                                     17,000

Rent:                 Rent expense                                                                    $ 15,000

Prepaid rent, January 1                                                4,900

Prepaid rent, December 31                                              6,000

Salaries:            Salaries and wages expense                                            $ 48,000

Salaries and wages payable, January 1                       5,000

Salaries and wages payable, December 31                         4,000

 

 

Instructions

In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the direct method.

Answers

CourseLover
(12)
Status NEW Posted 15 Dec 2017 04:12 PM My Price 10.00

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