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The following balances were gathered from Brannon Corporation's general ledger.December 31, ...

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The following balances were gathered from Brannon Corporation's general ledger.December 31, ...

The following balances were gathered from Brannon Corporation's general ledger.

	December 31, 2020	December 31, 2021
Accounts receivable	$ 60,000	$ 62,000
Inventory	150,000	147,000
Accounts payable	42,000	34,000
Accrued liabilities	2,000	8,000
Income taxes payable	2,000	3,000
Sales		380,000
Cost of goods sold		210,000
Operating expenses (includes $5,000 depreciation)		82,000
Gain on sale of equipment		6,000
Income tax expense		17,000

Required:

Using the indirect method, prepare the cash flows provided by operating activities section of Brannon's statement of cash flows for 2021.

Textbook

Managerial Accounting

Edition: 4^th

Author: Davis

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Marth6377

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More solutions for this book are available here

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bluejean Author

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Thanks

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This helped my grade so much Perfect

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Good timing, thanks!

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