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 $ 2,210 343 Increase in prepaid rent Payment of dividends 95 350 Depreciation expense Increase in accounts receivable 144 490 Increase in accounts payable 150 Gain on sale of land 106 Net income 1,140 Repayment of notes payable 443 Cash received from the sale of land 37 Issuance of common stock 2,490 Required: What is the net cash provided by operating activities? $1,086 inflow $1,298 inflow $400 inflow $324 inflow What is the net cash provided by investing activities? $2,173 outflow O $2,279 outflow $2,029 outflow $2,135 outflow What is the net cash flow by financing activities? $1,697 inflow $2,047 inflow $2,140 inflow $2,490 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 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

Principles Of Fraud Examination

Authors: Joseph T Wells

2nd Edition

0470128836, 9780470128831

More Books

Students also viewed these Accounting questions

Question

Where do I give in to my bad habit?

Answered: 1 week ago

Question

Always show respect for the other person or persons.

Answered: 1 week ago

Question

Self-awareness is linked to the businesss results.

Answered: 1 week ago