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E13-14 Okonedo Company

Price: $1.99


The following information is taken from the 2014 general ledger of Okonedo
Company.


Rent  Rent expense   40,000
  Prepaid rent, January 1   5,600
  Prepaid rent, December 31   9,000
Salaries  Salaries and wages expense   65,000
  Salaries and wages payable, January 1   10,000
  Salaries and wages payable, December 31   8,000
Sales  Sales revenue   170,000
  Accounts receivable, January 1   19,000
  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.

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