Question

E11.11 Calculate cash provided by operating activities — direct method. LO3 The 2019 accounting records of Home and Away Travels Ltd reveal the following transactions and events. Payment of interest $ 21 000 Collection of accounts receivable $ 266 000 Cash sales 84 000 Payment of salaries and wages 95 200 Receipt of dividend revenue 19 600 Depreciation expense 22 400 Payment of income tax 22 400 Proceeds from sale of aircraft 1 136 800 Profit 53 200 Purchase of equipment for cash 30 800 Payment of accounts payable for Loss on sale of aircraft 4 200 inventory 140 000 Payment of dividends 19 600 Payment for land 103 600 Payment of operating expenses 28 000 Required Prepare the cash flows from the operating activities section of the statement of cash flows using the direct method. (Not all of the items will be used.)

          E11.11 Calculate cash provided by operating activities — direct method. LO3 The 2019 accounting records of Home and Away Travels Ltd reveal the following transactions and events. Payment of interest $ 21 000 Collection of accounts receivable $ 266 000 Cash sales 84 000 Payment of salaries and wages 95 200 Receipt of dividend revenue 19 600 Depreciation expense 22 400 Payment of income tax 22 400 Proceeds from sale of aircraft 1 136 800 Profit 53 200 Purchase of equipment for cash 30 800 Payment of accounts payable for Loss on sale of aircraft 4 200 inventory 140 000 Payment of dividends 19 600 Payment for land 103 600 Payment of operating expenses 28 000 Required Prepare the cash flows from the operating activities section of the statement of cash flows using the direct method. (Not all of the items will be used.)

Added by Michael J.

Question

Please give Ace some feedback