Top Posters
Since Sunday
5
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
wizspero wizspero
wrote...
Go to Answer
Posts: 269
Rep: 0 0
5 years ago
The income statement and a partial balance sheet of Hart Alloy Company for the year ended December 31, 2017 is presented below. Prepare the operating activities section of the statement of cash flows using the direct method. Accrued Liabilities relate to miscellaneous operating expenses.

Hart Alloy Company
Income Statement
For the Year Ended December 31, 2017

Sales Revenues$1,500,000
Cost of Goods Sold  1,170,000
Gross Profit   $330,000
Operating Expenses:
Salaries Expense$210,000
Depreciation Expense60,000
Miscellaneous Expenses30,000    300,000
Net Income    $30,000

Hart Alloy Company
Partial Balance Sheet
2017      2016
Cash$240,000$195,000
Accounts Receivable (net)150,000  150,000
Inventories306,000  258,000
Accrued Liabilities13,500    15,000
Accounts Payable Merchandise Inventory)174,000  153,000
Salaries Payable22,500    18,000
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
Read 59 times
2 Replies
Replies
Answer verified by a subject expert
nicolepope23nicolepope23
wrote...
#1
Posts: 136
Rep: 59 0
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
This verified answer contains over 150 words.

Related Topics

wizspero Author
wrote...
#2
5 years ago
Such a godsend, you helped me and my friend big time
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1320 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 263
  
 197
  
 116
Your Opinion
Which is the best fuel for late night cramming?
Votes: 145
Previous poll results: Which of the following is the best resource to supplement your studies: