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E17-11B The following information is taken from the 2017 general ledger of Watson Company. ...

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Question

Accounting

E17-11B The following information is taken from the 2017 general ledger of Watson Company.
Rent Rent expense $ 60,000
Prepaid rent, January 15,500
Prepaid rent, December 319,000
Salaries Salaries and wages expense $ 50,000
Salaries and wages payable, January 110,000
Salaries and wages payable, December 318,000
Sales Revenue from sales $150,000
Accounts receivable, January 116,000
Accounts receivable, December 319,000
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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