1 Exercise 12-3 (Algo) Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the following info

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1 Exercise 12 3 Algo Indirect Reporting Cash Flows From Operations Lo P2 Arundel Company Disclosed The Following Info 1 (46.61 KiB) Viewed 51 times

1 Exercise 12-3 (Algo) Indirect: Reporting cash flows from operations LO P2 Arundel Company disclosed the following information for its recent calendar year. Selected Year-End Balance Sheet Data Income Statement Data Revenues $ 90,000 Accounts receivable decrease $ 25,000 Expenses: Purchased a machine for cash 22,000 Salaries expense Salaries payable increase 26,000 72,000 31,000 Interest payable decrease 14,000 eBook Utilities expense Depreciation expense 30,400 Interest expense 7,700 B Net loss $ (51,100) Hint 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.) Print Statement of Cash Flows (partial) Cash flows from operating activities-indirect method References Net loss Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense Changes in current operating assets and liabilities Accounts receivable decrease Salaries payable increase 4.28 points $