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The following information is taken from the 2007 general ledger of

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The following information is taken from the 2007 general ledger of Clifford Company.;Rent Rent Rent expense $ 40,000;Prepaid rent, January 1 5,900;Prepaid rent, December 31 9,000;Salaries Salaries Salaries expense $ 54,000;Salaries payable, January 1 10,000 Salaries payable, December 31 8,000;Sales Sales Revenue from sales $170,000;Accounts receivable, January 1 16,000;Accounts receivable, December 31 7,000;Instructions;In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the direct and indirect method.

 

Paper#25317 | Written in 18-Jul-2015

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