Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

6. Coyote, Inc.'s accountants have assembled the following data for the year ended March 31, 2018 (Click the icon to view the data) Prepare Coyote's

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
6. Coyote, Inc.'s accountants have assembled the following data for the year ended March 31, 2018 (Click the icon to view the data) Prepare Coyote's statement of cash flows using the indirect method for the year ended March 31, 2018 Assume beginning and ending Cash are $16,000 and 587 200 respectively Complete the statement one section at a time, beginning with the cash flows from operating activities (Use a minus sign of parentheses for amounts that result in a decrease in cash a box is not used in the statement leave the box emply do not select a label or enter a zero) 32,000 Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation Expense Decrease in Current Assets Other than Cash Increase in Current Liabilities 13,000 16,000 4,000 33,000 Cenon 65,000 Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: Cash Receipt from Disposal of Equipment Cash Payment for Acquisition of Land 21,000 27,000 6,000 Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Cash Receipt from Issuance of Common Stock Cash Payment of Dividends 18,000 5,800 6,000 Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Cash Receipt from Issuance of Common Stock Cash Payment of Dividends 18,000 5,800 16,000 Net Cash Provided by (Used for) Financing Activities Net Increase (Decrease) in Cash Cash Balance, March 31, 2017 Cash Balance, March 31, 2018 Cash receipt from sale of equipment Depreciation expense Cash payment of dividends Cash receipt from issuance of common stock Net income Cash purchase of land Increase in current liabilities Decrease in current assets other than cash 21,000 13,000 5,800 18,000 32,000 27,000 4,000 16.000 Done

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

Describe the patterns of business communication.

Answered: 1 week ago

Question

3. Provide two explanations for the effects of mass media

Answered: 1 week ago