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 $ 2,260 283 85 350 164 520 200 151 Net income 1.180 Repayment of notes payable 463 Cash received from the sale of land 32 Issuance of common stock 2,460 Required: What is the net cash provided by operating activities? $1,071 inflow $1,373 inflow O $505 inflow $479 inflow What is the net cash provided by investing activities? $2,228 outflow O $2,379 outflow O $2,064 outflow O $2,215 outflow What is the net cash flow by financing activities? O $1,647 inflow $1,997 inflow $2,110 inflow $2,460 inflowimage 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 with AI-Powered 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

Integrated Accounting

Authors: Dale A. Klooster, Warren Allen, Glenn Owen

8th edition

1285462726, 1285462721, 978-1285462721

Students also viewed these Accounting questions

Question

Describe the six elements of communication.

Answered: 1 week ago

Question

Explain the factors influencing wage and salary administration.

Answered: 1 week ago

Question

Examine various types of executive compensation plans.

Answered: 1 week ago

Question

1. What is the meaning and definition of banks ?

Answered: 1 week ago