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ACC 560 Week 9 Homework Chapter 13 (E13-4, E13-6,
E13-7 and P13-1A)
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ACC 560 Week 9 Homework Chapter 13 (E13-4, E13-6, E13-7 and
P13-1A)
Chapter 13: Statement of Cash Flows
ACC 560 Week 9 Chapter 13 Exercises 4, 6, and 7; Problem 1
E13-4
Gutierrez Company reported net income of $225,000 for 2017.
Gutierrez also reported depreciation expense of $45,000 and a loss of
$5,000 on the disposal of equipment. The comparative balance sheet
shows a decrease in accounts receivable of $15,000 for the year, a
$17,000 increase in accounts payable, and a $4,000 decrease in
prepaid expenses.
Instructions
Prepare the operating activities section of the statement of cash flows
for 2017. Use the indirect method.