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Question: Mosley Company’s income statement contained the

Mosley Company’s income statement contained the condensed information below.
Mosley Company’s income statement contained the condensed information below.


Mosley’s balance sheet contained the comparative data at December 31, below.


Accounts payable pertain to operating expenses.

Instructions:
Prepare the operating activities section of the statement of cash flows using the indirect method.

Mosley’s balance sheet contained the comparative data at December 31, below.
Mosley Company’s income statement contained the condensed information below.


Mosley’s balance sheet contained the comparative data at December 31, below.


Accounts payable pertain to operating expenses.

Instructions:
Prepare the operating activities section of the statement of cash flows using the indirect method.

Accounts payable pertain to operating expenses. Instructions: Prepare the operating activities section of the statement of cash flows using the indirect method.





Transcribed Image Text:

MOSLEY COMPANY Income Statement For the Year Ended December 31, 2014 Service revenue $850,000 Operating expenses, excluding depreciation depreciation expense Loss on disposal of plant assets $506,000 56,000 4,000 566,000 Income before income taxes 284,000 80,000 Income tax expense Net income $204,000 2014 2013 Accounts receivable Accounts payable Income taxes payable $72,000 27,000 23,000 $65,000 35,000 18,000



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