53)
Col 1
Operating
Direct Col 2
Operating
Indirect Col 3
Investing
Col 4
Financing
Cash paid for rent
54)
Col 1
Operating
Direct Col 2
Operating
Indirect Col 3
Investing
Col 4
Financing
Increase in prepaid expenses
55)
Col 1
Operating
Direct Col 2
Operating
Indirect Col 3
Investing
Col 4
Financing
Net loss
56)
Col 1
Operating
Direct Col 2
Operating
Indirect Col 3
Investing
Col 4
Financing
Increase in accounts payable
57)
Col 1
Operating
Direct Col 2
Operating
Indirect Col 3
Investing
Col 4
Financing
Cash received from customers
58)
Col 1
Operating
Direct Col 2
Operating
Indirect Col 3
Investing
Col 4
Financing
Increase in inventory
59)
Col 1
Operating
Direct Col 2
Operating
Indirect Col 3
Investing
Col 4
Financing
Cash paid for salaries or wages
60)
Col 1
Operating
Direct Col 2
Operating
Indirect Col 3
Investing
Col 4
Financing
Net income
40
61)
Col 1
Operating
Direct Col 2
Operating
Indirect Col 3
Investing
Col 4
Financing
Cash paid for insurance
62) The cash flows from operating activities are reported by the direct method on the statement of cash
flows. Determine the following:
a. If sales for the current year were $800,000 and accounts receivable increased $36,000 during the year,
what was the amount of cash received from customers?
b. If sales salaries expense for the current years was $110,000 and sales salaries payable decreased $30,000
during the year, what was the amount of cash payments for sales salaries?
63) The cash flows from operating activities are reported by the direct method on the statement of cash
flows. Determine the following:
a. If accrued expenses showed $60,000 on the income statement and payables increased from $10,000 to
$19,400 on the balance sheet, what was the amount of cash paid?
b. If insurance expense showed $17,000 on the income statement and Prepaid Insurance increased from
$5,000 to $9,000 on the balance sheet, what was the amount of cash paid for insurance?