Please assist with the following: Calculating Operating Cash Flows (Direct Method)...
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Accounting
Please assist with the following:
Calculating Operating Cash Flows (Direct Method) Calculate the cash flow for each of the following cases. a. Cash paid for advertising: Advertising expense Prepaid advertising, beginning of year Prepaid advertising, end of year Cash paid for advertising $62,000 11,000 15,000 $66,000 b. Cash paid for income taxes: Income tax expense Income tax payable, beginning of year Income tax payable, end of year $29,000 7,100 4,900 Cash paid for income taxes 41,000 X c. Cash paid for merchandise purchased: Cost of goods sold Inventory, beginning of year Inventory, end of year Accounts payable, beginning of year Accounts payable, end of year Cash paid for merchandise purchased: $173,000 $180,000 30,000 25,000 10,000 12,000
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