Cash Hash » Cash Hash » Get Cash/ Cash Out » Accounting direct method operating activities?

Reply
  #1 (permalink)
: MAZOR COMPANY
Income Statement
For the Year Ended November 30, 2012

Sales
$7,589,700



Cost of goods sold
Beginning inventory
$2,026,300

Purchases
4,398,100

Goods available for sale
6,424,400

Ending inventory
1,363,900

Total cost of goods sold
5,060,500

Gross profit
2,529,200

Operating expenses
Selling expenses
455,400

Administrative expenses
704,000

1,159,400

Net income
$1,369,800



Additional information:


1. Accounts receivable decreased $447,300 during the year, and inventory decreased $662,400.
2. Prepaid expenses increased $150,000 during the year.
3. Accounts payable to suppliers of merchandise decreased $352,600 during the year.
4. Accrued expenses payable decreased $112,300 during the year.
5. Administrative expenses include depreciation expense of $161,200.
Prepare the operating activities section of the statement of cash flows using the direct method.


It is finding operating expenses that I am having trouble. Used my book and still am getting the wrong answer. Any help is appreciated, thanks.
  Reply With Quote

Reply

Bookmarks

Thread Tools
Display Modes


Similar Threads
Thread Thread Starter Forum Replies Last Post
Accounting- Compute net cash provided by operating activities using the direct method? Marisa Cash Back 0 04-23-2013 11:01 PM
Cash Flows from Operating ActivitiesóDirect Method? EmilyRandle Cash Flow/ Cash Flows 0 04-11-2013 10:01 PM
E23-7 (Computation of Operating Activities-Direct Method)? Alicia Cash Back 0 03-23-2013 03:02 PM
Cash Flows from Operating ActivitiesóDirect Method? Pam Cash Flow/ Cash Flows 0 01-25-2013 08:04 PM
Prepare the operating activities sectionódirect method.? TaraBoza Cash Flow/ Cash Flows 1 06-09-2011 09:05 PM

Copyright ©2014, CashHash.com. All Rights Reserved