The two independent cases are listed below: Case A Case B Year 2 Year 1 Year 2 Year 1 Sales Revenue $ 11,400 $ 9,400 $ 23,000 $ 18,400 Cost of Goods Sold 6,200 5,700 12,800 11,200 Gross Profit 5,200 3,700 10,200 7,200 Depreciation Expense 1,040 1,040 1,540 1,540 Salaries and Wages Expense 2,700 2,040 5,400 5,040 Net Income $ 1,460 $ 620 $ 3,260 $ 620 Accounts Receivable $ 320 $ 420 $ 770 $ 620 Inventory 770 520 770 820 Accounts Payable 840 740 820 890 Salaries and Wages Payable 1,400 1,240 220 270 Required: Compute the net cash flow from operating activities section of the Year 2 statement of cash flows using the direct method. (Amounts to be deducted should be indicated with a minus sign.)
The two independent cases are listed below: Case A Case B Year 2 Year 1 Year 2 Year 1 Sales Revenue $ 11,400 $ 9,400 $ 23,000 $ 18,400 Cost of Goods Sold 6,200 5,700 12,800 11,200 Gross Profit 5,200 3,700 10,200 7,200 Depreciation Expense 1,040 1,040 1,540 1,540 Salaries and Wages Expense 2,700 2,040 5,400 5,040 Net Income $ 1,460 $ 620 $ 3,260 $ 620 Accounts Receivable $ 320 $ 420 $ 770 $ 620 Inventory 770 520 770 820 Accounts Payable 840 740 820 890 Salaries and Wages Payable 1,400 1,240 220 270 Required: Compute the net cash flow from operating activities section of the Year 2 statement of cash flows using the direct method. (Amounts to be deducted should be indicated with a minus sign.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The two independent cases are listed below:
| Case A | Case B | |||
|---|---|---|---|---|
| Year 2 | Year 1 | Year 2 | Year 1 | |
| Sales Revenue | $ 11,400 | $ 9,400 | $ 23,000 | $ 18,400 |
| Cost of Goods Sold | 6,200 | 5,700 | 12,800 | 11,200 |
| Gross Profit | 5,200 | 3,700 | 10,200 | 7,200 |
| Depreciation Expense | 1,040 | 1,040 | 1,540 | 1,540 |
| Salaries and Wages Expense | 2,700 | 2,040 | 5,400 | 5,040 |
| Net Income | $ 1,460 | $ 620 | $ 3,260 | $ 620 |
| $ 320 | $ 420 | $ 770 | $ 620 | |
| Inventory | 770 | 520 | 770 | 820 |
| Accounts Payable | 840 | 740 | 820 | 890 |
| Salaries and Wages Payable | 1,400 | 1,240 | 220 | 270 |
Required:
Compute the net cash flow from operating activities section of the Year 2 statement of
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