Schedule of Operating Cash Flows: Indirect Method The income statement for the Mendelin…

Schedule of Operating Cash Flows: Indirect Method The income statement for the Mendelin Corporation is as follows:

Additional information is as follows:

a. Interest expense includes $1,800 of discount amortization.

b. The prepaid insurance expense account decreased by $2,000 during the year.

c. Wages payable decreased by $3,000 during the year.

d. Accounts payable increased by $7,500 (this account is for purchase of merchandise only).

e. Accounts receivable increased by $10,000 (net of allowance for doubtful accounts).

Required:

Prepare a schedule of operating cash flows using the indirect method.

 

"Is this question part of your assignment? We can help"

ORDER NOW

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *