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inna [77]
3 years ago
10

Rodriguez Company completed its income statement and comparative balance sheet for the current year and provided the following i

nformation: Income Statement for Current Year Service revenue $ 54,000 Expenses Salaries $ 46,000 Depreciation 4,500 Amortization of copyrights 200 Other expenses 9,700 60,400 Net loss $ (6,400 ) Partial Balance Sheet Current Year Prior Year Accounts receivable $ 8,000 $ 13,000 Salaries payable 12,000 1,000 Other accrued liabilities 1,000 2,800 In addition, Rodriguez bought a small service machine for $5,000. Required: 1. Present the operating activities section of the statement of cash flows for Rodnguez Company using the indirect method.
Business
1 answer:
Oxana [17]3 years ago
3 0

Answer and Explanation:

The preparation of the operating activities section is shown below:

                                         Rodriguez Company

                             Statement of Cash Flows (partial)

Cash flows from operating activities:  

Net loss $ (6,400)  

Adjustments  

Add: Depreciation expenses $4,500

Add: Amortization of copyright $200

Add: Decrease in accounts receivable $5,000  

Add: Increase in salaries payable $11,000  

Less: Decrease in other current liabilities -$1,800

Net cash flow from operating activities $12,500

The negative sign reflects the cash outflow and the positive sign reflects the cash inflow

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3 years ago
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Answer: $744,000

Explanation:

The amount that should be reported in the balance sheet for the patent, net of accumulated amortization, at December 31, 2020 will be:

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3 years ago
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Answer:

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