The 2014 accounting records of Rogan Transport reveal these transactions and events. ...
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Accounting
The 2014 accounting records of Rogan Transport reveal these transactions and events.
Payment of interest
$ 12,180
Payment of salaries and wages
$ 64,554
Cash sales
58,464
Depreciation expense
19,488
Receipt of dividend revenue
21,924
Proceeds from sale of vehicles
989,016
Payment of income taxes
14,616
Purchase of equipment for cash
26,796
Net income
46,284
Loss on sale of vehicles
3,654
Payment for merchandise
118,146
Payment of dividends
17,052
Payment for land
90,132
Payment of operating expenses
34,104
Collection of accounts receivable
237,510
Prepare the cash flows from operating activities section using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
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