Question
2. Using the direct method, prepare the statement of cash flows for the year ending December 31, 2017., for your company (a clothing retailer). Make
2. Using the direct method, prepare the statement of cash flows for the year ending December 31, 2017., for your company (a clothing retailer). Make sure to include completeness and all three categories of activities: (1point)
Operating: purchase of clothes -$5,000, sale of clothes for cash $6,500, payment of salaries to sales people -$3,000
Investing: purchase of furniture and fixtures -$10,000, sale of old furniture $3,000, renovation of clothing store -$25,000
Financing: borrowing loan from bank $100,000, repayment of installments of loan -$2,000, payment of interest on loan -$1,000
Statement of Cash Flows
Year Ended December 31, 2017
| Cash flows From Operating Activities: | |
| $ | |
| Net cash provided by operating activities | $?????? |
| Cash flows from investing activities: | |
| Proceeds from sale of equipment | $ |
| Purchase of equipment | |
| Net cash used by investing activities | |
| Cash flows from financing activities: | |
| Dividends paid | |
| Bonds payable paid |
|
| Sale of common stock | |
| Net cash provided by financing activities | |
| Decrease in cash |
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The Power Of Accounting What The Numbers Mean And How To Use Them
Authors: Lawrence Lewis
1st Edition
0415884306, 978-0415884303
