The following information pertains to Guy's Gear Company Sales Expenses: Cost of Goods Sold Depreciation Expense Salaries and Wages Expense Net Income Accounts Receivable Decrease Inventory Increase Salaries and Wages Payable Increase $ 50,000 6,000 12,000 GUY'S GEAR COMPANY Cash Flows from Operating Activities-Indirect Method Adjustments to Reconcile Net Income to Cash Provided by Operating Activities Changes in Current Assets and Current Liabilities $ 4,000 8,000 750 Required: Present the operating activities section of the statement of cash flows for Guy's Gear Company using the indirect method. (Amount be deducted should be indicated with a minus sign.) $ 80,000 68,000 $12,000

The following information pertains to Guy's Gear Company Sales Expenses: Cost of Goods Sold Depreciation Expense Salaries and Wages Expense Net Income Accounts Receivable Decrease Inventory Increase Salaries and Wages Payable Increase $ 50,000 6,000 12,000 GUY'S GEAR COMPANY Cash Flows from Operating Activities-Indirect Method Adjustments to Reconcile Net Income to Cash Provided by Operating Activities Changes in Current Assets and Current Liabilities $ 4,000 8,000 750 Required: Present the operating activities section of the statement of cash flows for Guy's Gear Company using the indirect method. (Amount be deducted should be indicated with a minus sign.) $ 80,000 68,000 $12,000

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Description: Please dont gigve solutions in an image format thanks The following information pertains to Guy's Gear Company.SalesExpenses:Cost of Goods SoldDepreciation ExpenseSalaries and Wages ExpenseNet IncomeAccounts Receivable DecreaseInventory IncreaseSalar

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 3BE

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