Statement of cash flow by using direct method

Reference no: EM13142581

Wong furniture company had a cash balance on december 31, 20x0, of 50,000 It´s net income for 20x1 was 361,000. It´s 20x1 transaction affecting income or cash

Sales of 1.600 all on credit. Cash collection from customer 1,350
The cost of items sold, $850. Purchases of inventory totaled $ 900; inventory and accounts payable were affected accordingly
cash payments on trade accounts payable $ 775
Depreciation $ 48
Interest expenses, all paid in cash $ 11
Other expenses, all paid in cash $100
Income taxes accrued $40, income taxes paid $30
Bought plant and facilities for 335 cash
Issued debt for 110 cash
Paid cash dividends of $39

Prepare a statement of cash flow using the direct method for reporting cash flows from operating activities. Omit supporting schedule

Reference no: EM13142581

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