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 are

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 Gain on sale of land Net income Repayment of notes payable Cash received from the sale of land Issuance of common stock $ 2,220 343 95 340 204 520 150 111 1,160 493 72 2,460 Required: What is the net cash provided by operating activities? O $1,131 inflow $1,353 inflow $445 inflow $259 inflow What is the net cash provided by investing activities? $2,148 outflow O $2,259 outflow O $1,944 outflow O $2,055 outflow What is the net cash flow by financing activities? O $1,627 inflow O $1,967 inflow O $2,120 inflow O $2,460 inflow 13image text in transcribedimage text in transcribed

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

Principles Of Fraud Examination

Authors: Joseph T Wells

2nd Edition

0470128836, 9780470128831

More Books

Students also viewed these Accounting questions

Question

2. Value-oriented information and

Answered: 1 week ago

Question

1. Empirical or factual information,

Answered: 1 week ago

Question

1. To take in the necessary information,

Answered: 1 week ago