Zumbrunn Company’s income statement contained the condensed
information below.
|
ZUMBRUNN COMPANY |
||||
| Service revenue |
$970,700 |
|||
| Operating expenses, excluding depreciation |
$624,000 |
|||
| Depreciation expense |
56,000 |
|||
| Loss on disposal of equipment |
25,800 |
705,800 |
||
| Income before income taxes |
264,900 |
|||
| Income tax expense |
39,000 |
|||
| Net income |
$225,900 |
|||
Zumbrunn’s balance sheet contained the comparative data at December
31, shown below.
|
2017 |
2016 |
|||
| Accounts receivable | $74,300 | $59,700 | ||
| Accounts payable | 40,100 | 27,900 | ||
| Income taxes payable | 12,300 | 6,500 |
Accounts payable pertain to operating expenses.
Prepare the operating activities section of the statement of cash
flows using the indirect method. (Show amounts that
decrease cash flow with either a - sign e.g. -15,000 or in
parenthesis e.g. (15,000).)
please include all answers and calculations. thank you
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Zumbrunn Company’s income statement contained the condensed
information below.
ZUMBRUNN COMPANY
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Wildhorse Company’s income statement for the year ended December
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$836,000
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$626,000
Depreciation expense
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Loss on sale of equipment
26,000
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41,000
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4,100
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(Accounts payable pertains to operating expenses.)
Prepare the...
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Need help ASAP Exercise 23-6 Krauss Company's income statement for the year ended December 31, 2017,...
Need
help ASAP
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Wildhorse Company’s income statement for the year ended December
31, 2017, contained the following condensed information.
Service revenue
$836,000
Operating expenses (excluding depreciation)
$626,000
Depreciation expense
60,000
Loss on sale of equipment
26,000
712,000
Income before income taxes
124,000
Income tax expense
40,000
Net income
$84,000
Wildhorse’s balance sheet contained the following comparative data
at December 31.
2017
2016
Accounts receivable
$38,000
$53,000
Accounts payable
41,000
30,000
Income taxes payable
4,100
8,400
(Accounts payable pertains to operating expenses.)
Prepare the...
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