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preparing operating activities cash flow mdash direct method the accounting records 644582

Preparing operating activities cash flow—direct method The accounting records of Fuzzy Dice Auto Parts reveal the following:

Payment of salaries and wages

$ 31,000

Net income

$ 21,000

Depreciation

13,000

Payment of income tax

11,000

Payment of interest

16,000

Collection of dividend revenue

6,000

Payment of dividends

6,000

Payment to suppliers

54,000

Collections from customers

117,000

 

 

Requirement

1. Compute cash flows from operating activities using the direct method.

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