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Peels provided DELOW. Net sales Expenses: PEACH COMPUTER Income Statement For the year ended December 31, 2024 Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income $1,975,000 $1,120,000 630,000 57,000 47.000 1.854.000 $121,000 PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (I) or 2024 2023 Decrease (D) Cash $109,000 $88,500 $20,500 (I) Accounts receivable 45,700 52,500 6,800 (D) Inventory 82,000 58,500 23,500 Prepaid rent 3,700 6,400 2,700 (D) Accounts payable 52,000 40,500 11,500 (I) Income tax payable 5,700 13,500 7,800 (D) Required: Prepare the operating activities section of the statement of cash flows for Peach Com deducted should be indicated with a minus sign.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Cash flows from operating activities Net cash flows from operating activities $ 0

Peels provided DELOW. Net sales Expenses: PEACH COMPUTER Income Statement For the year ended December 31, 2024 Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income $1,975,000 $1,120,000 630,000 57,000 47.000 1.854.000 $121,000 PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (I) or 2024 2023 Decrease (D) Cash $109,000 $88,500 $20,500 (I) Accounts receivable 45,700 52,500 6,800 (D) Inventory 82,000 58,500 23,500 Prepaid rent 3,700 6,400 2,700 (D) Accounts payable 52,000 40,500 11,500 (I) Income tax payable 5,700 13,500 7,800 (D) Required: Prepare the operating activities section of the statement of cash flows for Peach Com deducted should be indicated with a minus sign.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Cash flows from operating activities Net cash flows from operating activities $ 0

Quickbooks Online Accounting
Quickbooks Online Accounting
3rd Edition
ISBN:9780357391693
Author:Owen
Publisher:Owen
Chapter5: Operating Activities: Purchases And Cash Payments
Section: Chapter Questions
Problem 3.7C
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Peels provided DELOW. Net sales Expenses: PEACH COMPUTER Income Statement For the year ended December 31, 2024 Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income $1,975,000 $1,120,000 630,000 57,000 47.000 1.854.000 $121,000 PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (I) or 2024 2023 Decrease (D) Cash $109,000 $88,500 $20,500 (I) Accounts receivable 45,700 52,500 6,800 (D) Inventory 82,000 58,500 23,500 Prepaid rent 3,700 6,400 2,700 (D) Accounts payable 52,000 40,500 11,500 (I) Income tax payable 5,700 13,500 7,800 (D) Required: Prepare the operating activities section of the statement of cash flows for Peach Com deducted should be indicated with a minus sign.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Cash flows from operating activities Net cash flows from operating activities $ 0
Transcribed Image Text:Peels provided DELOW. Net sales Expenses: PEACH COMPUTER Income Statement For the year ended December 31, 2024 Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income $1,975,000 $1,120,000 630,000 57,000 47.000 1.854.000 $121,000 PEACH COMPUTER Selected Balance Sheet Data December 31 Increase (I) or 2024 2023 Decrease (D) Cash $109,000 $88,500 $20,500 (I) Accounts receivable 45,700 52,500 6,800 (D) Inventory 82,000 58,500 23,500 Prepaid rent 3,700 6,400 2,700 (D) Accounts payable 52,000 40,500 11,500 (I) Income tax payable 5,700 13,500 7,800 (D) Required: Prepare the operating activities section of the statement of cash flows for Peach Com deducted should be indicated with a minus sign.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Cash flows from operating activities Net cash flows from operating activities $ 0
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