Question
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 $ 2,260 313 70 350 104 480 Increase in accounts payable 240 Gain on sale of land 111 Net income 1,110 Repayment of notes payable 433 Cash received from the sale of land. 57 Issuance of common stock 2,480 Required: What is the net cash provided by operating activities? $1,106 inflow O $1,328 inflow $480 inflow O $494 inflow What is the net cash provided by investing activities? $2.203 outflow stock Issuance of common stock 2,480 Required: What is the net cash provided by operating activities? $1,106 inflow $1,328 inflow O $480 inflow O$494 inflow What is the net cash provided by investing activities? O $2,203 outflow $2,314 outflow O$2,099 outflow O $2,210 outflow What is the net cash flow by financing activities? $1,697 inflow O $2,047 inflow $2,130 inflow $2,480 inflow
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started