The following information is taken from the 2022 general ledger of Swifty Company. Rent Rent expense $30,600 Prepaid rent, January 1 6,200 Prepaid rent, December 31 7,600 Salaries Salaries and wages...

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The following information is taken from the 2022 general ledger of Swifty Company.<br>Rent<br>Rent expense<br>$30,600<br>Prepaid rent, January 1<br>6,200<br>Prepaid rent, December 31<br>7,600<br>Salaries<br>Salaries and wages expense<br>$64,300<br>Salaries and wages payable, January 1<br>2,700<br>Salaries and wages payable, December 31<br>8,700<br>Sales<br>Sales revenue<br>$ 160,000<br>Accounts receivable, January 1<br>19,300<br>Accounts receivable, December 31<br>6,600<br>In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the<br>direct method.<br>Cash<br>payments for rent<br>24<br>Cash payments for salaries<br>24<br>Cash receipts from customers<br>24<br>

Extracted text: The following information is taken from the 2022 general ledger of Swifty Company. Rent Rent expense $30,600 Prepaid rent, January 1 6,200 Prepaid rent, December 31 7,600 Salaries Salaries and wages expense $64,300 Salaries and wages payable, January 1 2,700 Salaries and wages payable, December 31 8,700 Sales Sales revenue $ 160,000 Accounts receivable, January 1 19,300 Accounts receivable, December 31 6,600 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. Cash payments for rent 24 Cash payments for salaries 24 Cash receipts from customers 24

Jun 10, 2022
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