Problem 2 The Taehyung Company reported the following condense profit or loss for 2020: P1,000,000 580,000 P 420,000 Sales Less: Cost of Goods Sold Gross Profit Less: Operating expenses Depreciation expense Salaries Expense Profit P 80,000 120,000 Cash Accounts receivable Inventories Accounts payable (trade) Salaries payable 200,000 P 220,000 During 2020, the following changes occurred in the company's current assets and current liabilities: Increase (Decrease) 37,000 (50,000) 89,000 (46,000) 24,000 Instruction: Prepare the operating activities section of Taehyung Company's Statement of Cash Flows for the year ended 2020 using (a) indirect method and (b) direct method.

Problem 2 The Taehyung Company reported the following condense profit or loss for 2020: P1,000,000 580,000 P 420,000 Sales Less: Cost of Goods Sold Gross Profit Less: Operating expenses Depreciation expense Salaries Expense Profit P 80,000 120,000 Cash Accounts receivable Inventories Accounts payable (trade) Salaries payable 200,000 P 220,000 During 2020, the following changes occurred in the company's current assets and current liabilities: Increase (Decrease) 37,000 (50,000) 89,000 (46,000) 24,000 Instruction: Prepare the operating activities section of Taehyung Company's Statement of Cash Flows for the year ended 2020 using (a) indirect method and (b) direct method.

Fundamentals of Financial Management (MindTap Course List)

15th Edition

ISBN:9781337395250

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter4: Analysis Of Financial Statements

Section: Chapter Questions

Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...

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