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The following information is taken from the 2007 general ledger of Clifford Company.

The following information is taken from the 2007 general ledger of Clifford Company.

Rent Rent Rent expense $ 40,000
Prepaid rent, January 1 5,900
Prepaid rent, December 31 9,000

Salaries Salaries Salaries expense $ 54,000
Salaries payable, January 1 10,000 Salaries payable, December 31 8,000

Sales Sales Revenue from sales $170,000
Accounts receivable, January 1 16,000
Accounts receivable, December 31 7,000
Instructions
In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the direct and indirect method.

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cfs.xlsx

Clifford Company
as on 31st Dec' 2007
Revenue
Rent expenses
Salary expenses
Prepaid Rent
Salary Payable
Accounts Recievable 170000
40000
54000
31st Dec 1st Jan
increase/Decrease
9000
5900
3100...

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