Arundel Company disclosed the following information for its recent calendar year Income Statement Data Selected Year-End Balance Sheet Data $24,000 20,000 28,000 18,000 Revenues $110,000 Accounts receivable decrease Purchased a machine for cash Salaries payable increase Other accrued liabilities decrease Expenses Salaries expense Utilities expense Depreciation expense Other expenses 71,000 31,000 30,600 7,100 Net loss $ (29,700) Required 1. Prepare the operating activities section of the statement of cash flows using the indirect method. (Any losses or amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities

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19-12-2022
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Arundel Company disclosed the following information for its recent calendar year Income Statement Data Selected Year-End Balance Sheet Data $24,000 20,000 28,000 18,000 Revenues $110,000 Accounts receivable decrease Purchased a machine for cash Salaries payable increase Other accrued liabilities decrease Expenses Salaries expense Utilities expense Depreciation expense Other expenses 71,000 31,000 30,600 7,100 Net loss $ (29,700) Required 1. Prepare the operating activities section of the statement of cash flows using the indirect method. (Any losses or amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities

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Tutorconsortium437 Tutorconsortium437 · Answer 1 · 2022-12-22T08:16:21+01:00

Net loss: ($29,700), deferred revenue: $30,600 Accounts receivable decreased by $24,000 Salary increases: $28,000, Reduced liabilities: ($18,000), Net earnings generated by operations $34,900.

How then do you define revenue?

According to the definition, revenue is the sum of cash collected from carrying out business processes such as sales. It is also recognized as sales on the income statement. It is the net profit figure because it appears first on a company's income statement.

What are some examples of revenues?

The term income is frequently used instead of revenue. Sales, provider revenues, fees earned, equity revenue, and interest income are examples of revenue accounts. Revenue accounts are given credit when services are performed/billed, and thus have credit balances.

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