Hampton Company reports the following information for its recent calendar year I

Question

Hampton Company reports the following information for its recent calendar year Income Statement Data Selected Year-End Balance Sheet Data Accounts receivable increase Inventory decrease $10,000 16,000 1,000 $160,000 Sales Expenses Cost of goods sold Salaries expense Depreciation expense12,000 00,000 Salaries payable increase 24,000 Net income $24,000 Required: Prepare the operating activities section of the statement of cash flows for Hampton Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities Net income Depreciation expense Inventory decrease Salaries payable increase Accounts receivable increase Net cash provided by operating activities 0

Explanation / Answer

Statement of Cash Flow Particulars Amount Total Amount Cash flow from operating activities : Net Income          24,000.00 Depreciation Expense          12,000.00 Inventory Decrease          16,000.00 Salaries payable Increase            1,000.00 Accounts receivable increase        (10,000.00) Cash flow from operating activities            43,000.00

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