Question
A companys income statement showed the following: Net Income = $18,200 Depreciation Expense = $36,000 An examination of the companys current assets and current liabilities
A companys income statement showed the following:
Net Income = $18,200
Depreciation Expense = $36,000
An examination of the companys current assets and current liabilities showed the following changes as a result of operating activities:
Accounts Receivable decreased $7,000
Merchandise Inventory increased $5,900
Accounts Payable increased $4,700
Income Taxes Payable decrease $150
You are preparing the Statement of Cash Flows. Report the net cash provided or used by operating activities, using the indirect method. If it is a negative amount, be sure to put a minus sign (-) in front of your answer, such as -10.
2 You have the following additional information on non-operating cash transactions:
- Cash received from issuing stock = $8,000
- Cash paid for dividends = $1,000
- Cash received from sale of machinery = $9,500
You are continuing to prepare the Statement of Cash Flows for your company. Report the net cash provided or used by investing activities, using the indirect method. If it is a negative amount, be sure to put a minus sign (-) in front of your answer, such as -10.
3. You have the following additional information on non-operating cash transactions:
- Cash received from issuing stock = $8,000
- Cash paid for dividends = $1,000
- Cash received from sale of machinery = $9,500
You are continuing to prepare the Statement of Cash Flows for your company. Report the net cash provided or used by financing activities, using the indirect method. If it is a negative amount, be sure to put a minus sign (-) in front of your answer, such as -10.
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