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Compute the amount that should be reported

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Reference no: EM132725411

Question - The following information is taken from the 2022 general ledger of Orange Company.

Rent

Rent expense $30,000

Prepaid rent, January 1 5,900

Prepaid rent, December 31 7,400

Salaries

Salaries and wages expense $54,000

Salaries and wages payable, January 1 2,000

Salaries and wages payable, December 31 8,000

Sales

Sales revenue $160,000

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 method. (Show your calculations)

Reference no: EM132725411

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