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Changes in current asset and current liability accounts

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Reference no: EM13900010

1.Refer to the information about Sonad Company in Exercise 16-6. Use the direct method to prepare only the cash provided or used by operating activities section of the statement of cash flows for this company.In Exercise 16-6, Changes in current asset and current liability accounts for the year that relate to operations

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The following income statement and information about changes in noncash current assets and current liabilities are reported.
Accounts receivable . . . . . . . . . . $ 30,500 increase
Accounts payable . . . . . . . . . . . . $ 12,500 decrease
Merchandise inventory . . . . . . . . 25,000 increase
Salaries payable . . . . . . . . . . . . . 3,500decrease 

Reference no: EM13900010

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