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. Payment of interest $ 21,940 Payment of salaries and wages $ 116,282 Cash sales 105,312 Depreciation expense 35,104 Receipt of dividend revenue 39,492 Proceeds from sale of vehicles 1,781,528 Payment of income taxes 26,328 Purchase of equipment for cash 48,268 Net income 83,372 Loss on sale of vehicles 6,582 Payment for merchandise 212,818 Payment of dividends 30,716 Payment for land 162,356 Payment of operating expenses 61,432 Collection of accounts receivable 427,830 Prepare the cash flows from operating activities section using the direct method

Explanation / Answer

Statement of cash flows

Cash sales $105312 Collection of accounts receivable 427830 Payment for merchandise -212818 Payment of salaries and wages -116282 Payment of interest -21940 Payment of income taxes -26328 Payment of operating expenses -61432 Cash flows from operating activities $94342

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