80.2K
Verified Solution
Link Copied!
The independent cases are listed below that includes all items relevant to operating activities:
| Case A | | Case B | | Case C | |
Sales revenue | $ | 62,000 | | | $ | 52,000 | | | $ | 100,000 | | |
Cost of goods sold | | 33,500 | | | | 24,500 | | | | 72,600 | | |
Depreciation expense | | 11,300 | | | | 1,700 | | | | 27,300 | | |
Salaries and wages expense | | 4,700 | | | | 12,700 | | | | 7,700 | | |
Net income (loss) | | 12,500 | | | | 13,100 | | | | (7,600 | ) | |
Accounts receivable increase (decrease) | | (1,100 | ) | | | 3,700 | | | | 2,700 | | |
Inventory increase (decrease) | | 1,700 | | | | 0 | | | | (2,700 | ) | |
Accounts payable increase (decrease) | | 0 | | | | 2,200 | | | | (1,100 | ) | |
Salaries and wages payable increase (decrease) | | 1,350 | | | | (1,700 | ) | | | 1,100 | | |
|
Compute cash flows from operating activities using the direct method. (Amounts to be deducted should be indicated with a minus sign.)
Answer & Explanation
Solved by verified expert