p13-5a - Name: Date: Instructor: Course: rd Managerial...

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FileName: 0e326d4ae8f76c0667a864136f2a98c0153f915a.xls, Tab: Problem P13-5A, Page 1 of 2, 12/28/2011, 19:03:32 Name: Date: Instructor: Course: KRAEMER INC. Income Statement For the Year Ended December 31, 2005 Revenues $545,000 Operating expenses 400,000 Income from operations 145,000 Income tax expense 47,000 Net income $98,000 Kraemer's balance sheet contained these comparative data at December 31. 2005 2004 Accounts receivable $50,000 $70,000 Accounts payable 30,000 41,000 Income taxes payable 10,000 4,000 Kraemer has no depreciable assets. Accounts payable pertains to operating expenses. Instructions: Prepare the operating activities section of the statement of cash flows using the direct method. KRAEMER INC. Partial Statement of Cash Flows For the Year Ended December 31, 2005 Cash flows from operating activities Cash receipts from customers Amount (1) Less cash payments: Title Amount (2) Title Amount Formula (3) Net cash provided by operating activities Formula (1) Cash receipts from customers
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p13-5a - Name: Date: Instructor: Course: rd Managerial...

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