The following income statement and additional year-end information is provided. Sales Cost of goods sold Gross profit SONAD COMPANY Income Statement For Year Ended December 31 Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income Accounts receivable Inventory $ 320,854 56,208 63,234 7,026 25,762 $ 2,342,000 1,147,580 1,194,420 473,084 721,336 9,368 $ 730,704 $ 19,650 increase Accounts payable 31,225 increase Salaries payable $ 9,075 decrease 5,650 decrease Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

The following income statement and additional year-end information is provided. Sales Cost of goods sold Gross profit SONAD COMPANY Income Statement For Year Ended December 31 Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income Accounts receivable Inventory $ 320,854 56,208 63,234 7,026 25,762 $ 2,342,000 1,147,580 1,194,420 473,084 721,336 9,368 $ 730,704 $ 19,650 increase Accounts payable 31,225 increase Salaries payable $ 9,075 decrease 5,650 decrease Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

Name: D1. The following income statement and additional year-end information
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Description: D1. The following income statement and additional year-end information is provided.SalesCost of goods soldGross profitOperating expensesSONAD COMPANYIncome StatementFor Year Ended December 31Salaries expenseDepreciation expenseRent expenseAmortizatio

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 3SEB: MULTIPLE-STEP INCOME STATEMENT Use the following information to prepare a multiple-step income...

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MULTIPLE-STEP INCOME STATEMENT Use the following information to prepare a multiple-step income statement, including the revenue section and the cost of goods sold section, for Aeitos Plumbing Supplies for the year ended December 31, 20--.
The following Income statement and additional year-end Information is provided. SONAD COMPANY Incone Statenent For Year Ended December 31 $ 1,823,e00 893, 270 Sales Cost of goods sold Gross profit Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense 929,730 $ 249,751 43,752 49, 221 5,469 20,053 368, 246 561,484 7,292 Gain on sale of equipment Net income $ 568,776 $ 31,5e0 increase Accounts payable 13,375 increase Salaries payable $ 13,950 decrease 4,800 decrease Accounts receivable Inventory Prepare the operating activitles section of the statement of cash flows using the direct method. (Amounts to be deducted should be Indicated with a minus sign.) Answer is not complete. Statement of Cash Flows (Partial) Cash flows from operating activities Amortization expenses-Patents Gain on sale of equipment Increase in Accounts receivable Increase in Inventory Decrease in Accounts payable Decrease in Salaries payable Net cash…
The following income statement and additional year-end information is provided. Sales Cost of goods sold Gross profit Operating expenses SONAD COMPANY Income Statement For Year Ended December 31 Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income Accounts receivable Inventory $324,279 56,808 63,909 7,101 26,037 $2,367,000 1,159,830 1,207,170 478,134 729,036 9,468 $ 738,504 $15,100 increase Accounts payable 19,550 increase Salaries payable $ 8,400 decrease 2,200 decrease Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
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The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 311 Sales Cost of goods sold Gross profit Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income Accounts receivable Inventory $ 245,535 44,200 49,600 4,200 18,125 $ 1,828,000. 991,000 837,000 361,660 475,340 6,200 $ 481,540 $ 30,500 increase Accounts payable: 25,000 increase Salaries payable. Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Changes in current operating assets and liabilities Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities. Income statement items not affecting cash
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I ne following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income $333,047 58,344 65,637 7,293 26,741 $ 2,431,000 1,191,190 1,239,810 491,062 748,748 9,724 $ 758,472 Accounts receivable $ 48,900 increase Accounts payable 28,550 increase Salaries payable $ 9,950 decrease 1,850 decrease Inventory Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial) Changes in current operating assets and liabilities Cash flows from operating activities FINDEREN Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash $ 0
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