- Portions Of The Financial Statements For Horizon Telecom Are Provided Below Horizon Telecom Income Statement For The Ye 1 (40.37 KiB) Viewed 9 times
- Portions Of The Financial Statements For Horizon Telecom Are Provided Below Horizon Telecom Income Statement For The Ye 2 (48.1 KiB) Viewed 9 times
Portions of the financial statements for Horizon Telecom are provided below. HORIZON TELECOM Income
Statement For the Year Ended December 31, 2021 Revenues Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net Income $364,000 115,000 25,000 53,500 $611,000 557,500 $ 53,500 HORIZON TELECOM Selected Balance Sheet Data December 31, 2021 Increase in accounts receivable Increase in inventory. Decrease in prepaid rent Increase in operating expenses payable Decrease in accounts payable Increase in income tax payable. Cash Flows from Operating Activities $ 4,100 11,500 10,500 5,600 7,100 21,600 Prepare the operating activities section of the
statement of cash flows for Horizon Telecom using the indirect method. (Amounts to b deducted and negative values should be indicated by minus sign.) HORIZON TELECOM
Statement of Cash Flows For the year ended December 31, 2021 Adjustments to reconcile net income to net cash flows from operating activities:
HRASH Selected Balance Sheet Data December 31, 2021 Increase in accounts receivable Increase in inventory Decrease in prepaid rent Increase in operating expenses payable Decrease in accounts payable Increase in income tax payable Prepare the operating activities section of the
statement of cash flows for Horizon Telecom using the indirect method. deducted and negative values should be indicated by minus sign.) HORIZON TELECOM
Statement of Cash Flows $ 4,100 11,500 10,500 5,600 7,100 21,600 For the year ended December 31, 2021 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities $ 0