The 2014 accounting records of Rogan Transport reveal these transactions and eve

Question

The 2014 accounting records of Rogan Transport reveal these transactions and events.

Prepare the cash flows from operating activities section using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Rogan Transport
Statement of Cash Flows—Direct Method
For the Year 2014

$

:

$

$

Payment of interest $ 33,470 Payment of salaries and wages $ 177,391 Cash sales 160,656 Depreciation expense 53,552 Receipt of dividend revenue 60,246 Proceeds from sale of vehicles 2,717,764 Payment of income taxes 40,164 Purchase of equipment for cash 73,634 Net income 127,186 Loss on sale of vehicles 10,041 Payment for merchandise 324,659 Payment of dividends 46,858 Payment for land 247,678 Payment of operating expenses 93,716 Collection of accounts receivable 652,665

Explanation / Answer

Cash flows from operating activities 2014 Cash Sales $             160,656 Collection of account receivable $             652,665 $             813,321 Salaries and Wages $           (177,391) Payment of income tax $             (40,164) payment to merchadise $           (324,659) payment of operating expense $             (93,716) $           (635,930) Cash flow from operating activites $             177,391

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.