Exercise 12-3 (Algo) Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the...
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Accounting
Exercise 12-3 (Algo) Indirect: Reporting cash flows from operations LO P2
Arundel Company disclosed the following information for its recent calendar year.
Income Statement Data
Selected Year-End Balance Sheet Data
Revenues
$
85,000
Accounts receivable decrease
$
24,000
Expenses:
Purchased a machine for cash
18,000
Salaries expense
71,000
Salaries payable increase
26,000
Utilities expense
28,000
Interest payable decrease
17,000
Depreciation expense
29,400
Interest expense
8,700
Net loss
$
(52,100
)
Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
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