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P17-3C The income statement of Marcessa Company is presented on the next page.

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P17-3C The income statement of Marcessa Company is presented on the next page. Additional information;1. Accountsreceivabledecreased$520,000duringtheyear,andinventoryincreased$140,000. 2. Prepaidexpensesincreased$175,000duringtheyear. 3. Accountspayabletomerchandisesuppliersincreased$50,000duringtheyear. 4. Accruedexpensespayableincreased$165,000duringtheyear.;$6,000;Prepare the operating activities section?indirect method.;(SO 3);58;Chapter 17 Statement of Cash Flows;Cash from operations $1,585,000;Prepare the operating activities section?direct method.;(SO 6);Cash from operations $1,585,000;Prepare the operating activities section?indirect method.;(SO 3);Cash from operations $108,000;Prepare the operating activities section?direct method.;Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2010, for Marcessa Company, using the indirect method.;*P17-4C Data for Marcessa Company are presented in P17-3C.;Instructions;Prepare the operating activities section of the statement of cash flows using the direct method.;(SO 6);Shapiro has no depreciable assets. Accounts payable pertain to operating expenses.;Instructions;Prepare the operating activities section of the statement of cash flows using the indirect method. *P17-6C Data for Maxine Inc. are presented in P17-5C.;Instructions;Prepare the operating activities section of the statement of cash flows using the direct method.;Cash from operations $108,000;Instructions;P17-5C;The income statement of Maxine Inc. reported the following condensed information.;MARCESSA COMPANY;Income Statement For the Year Ended December 31, 2010;Sales Cost of goods sold;Beginning inventory Purchases;Goods available for sale Ending inventory;Total cost of goods sold;Gross profit Operating expenses;Selling expenses Administrative expense Depreciation expense Amortization expense;Net income;$1,780,000 3,430,000;5,210,000 1,920,000;420,000 525,000 105,000;20,000;$5,400,000;3,290,000;2,110,000;1,070,000

 

Paper#25527 | Written in 18-Jul-2015

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