Required information [The following information applies to the questions displayed below.) Suppose your company sells...
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Required information [The following information applies to the questions displayed below.) Suppose your company sells goods for $330, of which $215 is received in cash and $115 is on account. The goods cost your company $131 and were paid for in a previous period. Your company also recorded salaries and wages of $85, of which only $33 has been paid in cash. equired: - Prepare the journal entries to record these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet cash and $115 is on account. The goods cost your company $131 and were paid for in a previous period. Your company also recorded salaries and wages of $85, of which only $33 has been paid in cash. 2. Calculate the amount that should be reported as net cash flow from operating activities. 3. Calculate the amount that should be reported as net income. 4. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2). Complete this question by entering your answers in the tabs below. Required 2 Required 3 Required 4 Calculate the amount that should be reported as net income. Net Income
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