Prepare the cash flows from operating activities section only of the company”s 2011 statement…


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29.99

Prepare the cash flows from operating activities section only of the company”s 2011 statement… 1 answer below » Rapture Company’s 2011 income statement and selected balance sheet data at December 31, 2010 and 2011, follow ($ thousands). RAPTURE COMPANY Selected Balance Sheet Accounts At December 31 2011 2010 Accounts receivable $380 $390 Inventory 99 77 Accounts payable 120 130 Salaries payable 44 35 Utilities payable 11 8 Prepaid insurance 13 14 Prepaid rent 11 9 View complete question » For Year Ended December 31,2011 Sales revenue $58,600 Rapture Company’s 2011 income statement and selected balance sheet data at December 31, 2010 and 2011, follow ($ thousands). RAPTURE COMPANY Selected Balance Sheet Accounts At December 31 2011 2010 Accounts receivable $380 $390 Inventory 99 77 Accounts payable 120 130 Salaries payable 44 35 Utilities payable 11 8 Prepaid insurance 13 14 Prepaid rent 11 9 For Year Ended December 31,2011 Sales revenue $58,600 Expenses Cost of goods sold 21,000 Depreciation expense 6,000 Salaries expense 11,000 Rent expense 2,500 Insurance expense 1,900 Interest expense 1,800 Utilities expense 1,400 Net income $13,000 Refer to the information in Problem 16-7A. Required Prepare the cash flows from operating activities section only of the company’s 2011 statement of cash flows using the direct method. View less » Jul 24 2014 07:49 AM

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29.99