The cash flows from operating activities are reported by the direct method on the statement of cash flows. Determine the following:
a. If accrued expenses showed $60,000 on the income statement and payables increased from $10,000 to $19,400 on the balance sheet, what was the amount of cash paid?
b. If insurance expense showed $17,000 on the income statement and Prepaid Insurance increased from $5,000 to $9,000 on the balance sheet, what was the amount of cash paid for insurance?

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The Answer of The cash flows from operating activities are reported by the direct method on the statement of cash flows. Determine the following:
a. If accrued expenses showed $60,000 on the income statement and payables increased from $10,000 to $19,400 on the balance sheet, what was the amount of cash paid?
b. If insurance expense showed $17,000 on the income statement and Prepaid Insurance increased from $5,000 to $9,000 on the balance sheet, what was the amount of cash paid for insurance?

The Cash Flows from Operating Activities Are Reported by the Direct