Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ABC Company has completed the basic format to be used in preparing the statement of cash flows (indirect method). Listed below in random order

image text in transcribed

ABC Company has completed the basic format to be used in preparing the statement of cash flows (indirect method). Listed below in random order are line items to be included in the statement of cash flows. Purchase of equipment Decrease in inventory Increase in prepaid rent Payment of dividends Depreciation expense Increase in accounts receivable Increase in accounts payable $ 2,220 263 85 360 174 510 200 Gain on sale of land 126 Net income 1,180 Repayment of notes payable 483 Cash received from the sale of land 52 Issuance of common stock 2,500 Required: What is the net cash provided by operating activities? $1,096 Inflow $1,348 Inflow $570 Inflow $474 Inflow What is the net cash provided by investing activities? $2,168 outflow $2,294 outflow $1,994 outflow $2,120 outflow What is the net cash flow by financing activities? $1,657 Inflow $2,017 Inflow $2,140 Inflow $2,500 Inflow

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

Step: 3

blur-text-image

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

Financial and Managerial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

2nd edition

978-1119036357, 1119036356, 1118338413, 1118334264, 978-1118338414, 978-1118334263

More Books

Students also viewed these Accounting questions

Question

Which topics do you and your team need to address together?

Answered: 1 week ago