The Following Is a Partial List of Accounts and Balances

question 54

Essay

The following is a partial list of accounts and balances for the Spencer Corporation.Additional Information:
Net income for the current year was $78,800; depreciation expense was $53,400; equipment with a book value of $40,000 was sold for $36,000 cash. $\begin{array}{|l|r|r|}\hline &{\text { Beginning }} &{\text { Ending }} \\\hline \text { Land } & \$ 48,000 & \$ 131,800 \\\hline \text { Accounts receriable } & 20,800 & 20,000 \\\hline \text { Prepaid rent } & 4,200 & 2,800 \\\hline \text { Prepaid insurance } & 1,800 & 5,600 \\\hline \text { Equipment } & 24,000 & 29,000 \\\hline \text { Accounts payable } & 3,600 & 2,800 \\\hline \text { Dividends payable } & 2,000 & 2,400 \\\hline \text { Utilities payable } & 1,000 & 1,600 \\\hline \text { Cash } & 16,000 & 14,400 \\\hline \text { Buildings } & 188,000 & 224,000 \\\hline \text { Salaries payable } & 5,800 & 4,400 \\\hline \text { Unearned revenue } & 1,600 & 1,800 \\\hline\end{array}$ Prepare the operating activities section of the statement of cash flows for the current year using the indirect method.

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Definitions:

Medical Records

Documented records of a patient's medical history, treatment records, diagnoses, and other healthcare information.

Intentional Tort

A wrongful act, done on purpose, that causes harm to another person, for which the injured party can seek legal redress.

Trespass

An unlawful act causing injury to the person, property, or rights of another, particularly entering onto land without the owner's permission.

Adverse Events

Unintended and harmful events associated with the use of a medical intervention such as a drug or surgery.