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Wabaunsee corporation uses the direct method

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Reference no: EM131110767

Wabaunsee Corp. uses the direct method to prepare its statement of cash flows. Waubansee's trial balances at December 31, 2010 and 2009 are as follows.

Additional information:

1. Wabaunsee purchased $5,000 in equipment during 2010.

2. Wabaunsee allocated one-third of its depreciation expense to selling expenses and the remainder to general and administrative expenses.

3. Bad debt expense for 2010 was $5,000, and write-offs of uncollectible accounts totaled $3,800. Determine what amounts Wabaunsee should report in its statement of cash flows for the year ended December 31, 2010, for the following items.

1. Cash collected from customers. 

3. Cash paid for interest.

2. Cash paid to suppliers. 

4. Cash paid for income taxes.

5. Cash paid for selling expenses. 

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Reference no: EM131110767

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