E1-35B. (Learning Objective 3, 4: Preparing a Statement of Cash Flows) Lucky began 20X6 with 80,000 in
Question:
E1-35B. (Learning Objective 3, 4: Preparing a Statement of Cash Flows) Lucky began 20X6 with €80,000 in cash. During 20X6, Lucky earned net income of €442,000, and adjustments to reconcile net income to net cash provided by operations totaled €58,000, a positive amount. Investing activities used cash of €390,000, and financing activities provided cash of
€72,000. Lucky ended 20X6 with total assets of €380,000 and total liabilities of €150,000.
Requirement 1. Prepare Lucky’s Statement of Cash Flows for the year ended December 31, 20X6. Identify the data items given that do not appear on the Statement of Cash Flows. Also identify the financial statement that reports each unused item.
Step by Step Answer:
Financial Accounting International Financial Reporting Standards Global Edition
ISBN: 9781292211145
11th Edition
Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison