Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following cash flows and other information per

The following cash flows and other information pertain to Elon Company for 2020: Collections from...

50.1K

Verified Solution

Question

Accounting

The following cash flows and other information pertain to Elon Company for 2020: Collections from customers $65,000 Net income 12,000 Cost of goods sold 46,000 Payments of interest 3,500 Decrease in inventory 8,000 Payments to suppliers 14,000 Depreciation expense 1,500 Proceeds from sale of equipment 15,000 Dividends received 2,000 Proceeds from sale of stock 25,000 Interest collected 2,500

Required: Prepare the operating activities section of the statement of cash flows for 2020, using the direct method.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

QUESTION 1 - Present Value – 20 marks You have approached your organisation’s bank for a...

Finance
Q

Q 10 St. Johns River Shipyards is considering the replacement of an 8-year-old riveting machine with a...

Finance
Q

1. What increases the chance of a patient acquiring a Clostridium difficile infection? 2. What is a...

Biology
Q

An automobile tire is inflated with air originally at 10.0°C and normal atmospheric pressure. During the...

Physics
Q

Which of the descriptions below is an example of resonant energy transfer? (Choose all that are...

Physics
Q

What is bull whip effect? Discuss effective ways for reducting the lead times within a supply...

General Management
Q

A small island nation is made up of four islands A B C and D...

Basic Math
Q

Find the intersection and the union of the sets A 3 4 6 8 9...

Algebra
Q

Please type the answer thank you. Parts Corporation is a manufacturer of...

Accounting
Q

To what extent are budgets useful to organizations? Discuss why managers often complain about the...

Accounting
Q

Daniel Company uses a periodic inventory system. Data for the current year: beginning merchandise inventory...

Accounting
Q

How would an increase in the income tax rate affect the calculation of a project...

Accounting