In-Class_CFS_Problem - To receive partial credit you must...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Partial Income Statement For the year ended December 31, 2002 Sales revenue $260,000 Cost of Goods Sold (45,000) Salaries expense (27,000) Depreciation expense (6,000) Partial Balance Sheet 12/31/2002 12/31/2001 Change Current Assets Cash $125,000 $85,000 40,000 Accounts receivable 30,000 50,000 (20,000) Inventory 10,000 25,000 (15,000) Current Liabilities Accounts payable $20,000 $37,000 (17,000) Salaries payable 35,000 15,000 21,000 Required: Compute each of the line items for the operating cash section only
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: . To receive partial credit, you must show the computation of those cash flows and properly label each cash flow. Hint: The net cash flows from investing activities were ($60k) of outflows and the net financing cash flows were ($127k) of outflows. Partial Cash Flow Statement For the year ended December 31, 2002 Cash Flows from Operating Activities Cash Inflows: Cash Outflows: Net cash provided by/(used for) operating activities...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online