Computing operating activities cash flow—indirect method The accounting records of DVD Sales, Inc., include the following accounts:
|
Cash |
Accounts receivable |
Inventory |
|||||
|
Jul 1 |
5500 |
Jul 1 |
21,000 |
Jul 1 |
22,000 |
||
|
???? |
???? |
???? |
|||||
|
Jul 31 |
3000 |
Jul 31 |
17,000 |
Jul 31 |
25,500 |
||
|
Accounts payable |
Accumulated depr.—equipment |
Retained earnings |
|||||
|
Jul 1 |
14,500 |
Jul 1 |
55,000 |
Jul 1 |
65,000 |
||
|
???? |
Depr |
3,000 |
Dividend |
19,000 |
Net Inc |
65,000 |
|
|
Jul 31 |
19,500 |
Jul 31 |
58,000 |
Jul 31 |
111,000 |
||
Requirement
1. Compute DVD’s net cash provided by (used for) operating activities during July. Use the indirect method.