ACC 560 Week 9 Homework Chapter 13( E13-4, E13-6, E13-7 and P13-1A)
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.
E13-6
the three accounts shown below appear in the general ledger of Herrick Corp. during 2017.