143 rona inc gathered the following data from its accounting records for the year en 4305848

143 rona inc gathered the following data from its accounting records for the year en 4305848

143) Rona Inc. gathered the following data from its accounting records for the year ended December 31, 2010:

Amortization expense$ 15,900

Payment of income taxes 24,500

Collections of accounts receivable 167,200

Purchase of company's own common shares 40,000

Declaration of stock dividend65,000

Loss on sale of property, plant, and equipment8,400

Collection of dividend revenue13,800

Payments of salaries and wages83,600

Cash sales103,700

Net income 61,200

Acquisition of land73,500

Payment of interest19,400

Interest received on investments3,100

Issuance of bonds payable500,000

Increase in accounts payable20,300

Payments to suppliers173,600

Acquisition of equipment by issuing

      long-term note payable50,000

Prepare the operating activities section of the cash flow statement using the direct method.

144) Using the following data, prepare the operating activities section of the cash flow statement for Zhuang Corporation for the year ended December 31, 2010, using the direct method.

Salary expense$ 55,000

Salary payable, January 1 balance3,500

Salary payable, December 31 balance2,700

Sales revenue215,000

Merch. inventory, January 1 balance75,000

Merch. inventory, December 31 balance55,000

Interest expense13,000

Interest payable, January 1 balance2,500

Interest payable, December 31 balance1,300

Accounts payable, January 1 balance25,000

Accounts payable, December 31 balance22,500

Cost of goods sold95,000

Operating expenses 30,000

Prepaid expenses, January 1 balance6,000

Prepaid expenses, December 31 balance4,500

Accrued liabilities, January 1 balance2,500

Accrued liabilities, December 31 balance3,600

Income tax expense12,000

Income tax payable, January 1 balance3,500

Income tax payable, December 31 balance0

Accounts receivable, January 1 balance10,000

Accounts receivable, December 31 balance15,000

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