Sales Revenue Cost of Goods Sold Gross Profit Depreciation Expense Salaries and Wages Expense Net Income Accounts Receivable Inventory Accounts Payable Salaries and Wages Payable Required: Case A Year 2 Year 1 Year 2 Case B Year 1 $ 10,900 $ 8,500 $ 20,900 $ 17,500 5,910 5,100 11,910 10,510 4,990 3,400 8,998 6,990 1,200 1,200 1,450 1,450 2,400 1,900 4,900 4,900 $ 1,390 $ 300 $ 2,640 $ 640 $ 295 $ 398 $ 740 $ 595 745 490 725 790 790 695 810 900 995 1,190 265 360 Show the operating activities section of the statement of cash flows for year 2 using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities: Changes in Assets and Liabilities Case A Case B
Sales Revenue Cost of Goods Sold Gross Profit Depreciation Expense Salaries and Wages Expense Net Income Accounts Receivable Inventory Accounts Payable Salaries and Wages Payable Required: Case A Year 2 Year 1 Year 2 Case B Year 1 $ 10,900 $ 8,500 $ 20,900 $ 17,500 5,910 5,100 11,910 10,510 4,990 3,400 8,998 6,990 1,200 1,200 1,450 1,450 2,400 1,900 4,900 4,900 $ 1,390 $ 300 $ 2,640 $ 640 $ 295 $ 398 $ 740 $ 595 745 490 725 790 790 695 810 900 995 1,190 265 360 Show the operating activities section of the statement of cash flows for year 2 using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities: Changes in Assets and Liabilities Case A Case B
Sales Revenue Cost of Goods Sold Gross Profit Depreciation Expense Salaries and Wages Expense Net Income Accounts Receivable Inventory Accounts Payable Salaries and Wages Payable Required: Case A Year 2 Year 1 Year 2 Case B Year 1 $ 10,900 $ 8,500 $ 20,900 $ 17,500 5,910 5,100 11,910 10,510 4,990 3,400 8,998 6,990 1,200 1,200 1,450 1,450 2,400 1,900 4,900 4,900 $ 1,390 $ 300 $ 2,640 $ 640 $ 295 $ 398 $ 740 $ 595 745 490 725 790 790 695 810 900 995 1,190 265 360 Show the operating activities section of the statement of cash flows for year 2 using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities: Changes in Assets and Liabilities Case A Case B
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Definition Definition Structural system an enterprise uses to collect, store, report, retrieve, and process financial data. Accounting information systems are used by business analysts, auditors, accountants, and consultants for accurate and efficient access to financial data.
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