E13-13 The 2011 accounting records
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*E13-13 The 2011 accounting records of Verlander Transport reveal these transactions and events.
Payment of interest $ 10,000 Collection of accounts receivable $182,000
Cash sales 48,000 Payment of salaries and wages 53,000
Receipt of dividend revenue 18,000 Depreciation expense 16,000
Payment of income taxes 12,000 Proceeds from sale of vehicles 12,000
Net income 38,000 Purchase of equipment for cash 22,000
Payment of accounts payable Loss on sale of vehicles 3,000
for merchandise 115,000 Payment of dividends 14,000
Payment for land 74,000 Payment of operating expenses 28,000
Instructions
Prepare the cash flows from operating activities section using the direct method. (Not all of the
items will be used.)
- 10 years ago
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- e13-13.xls