Answered step by step
Verified Expert Solution
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 $ 2,260 283 80 330 184 500 250 151 1,090 503 57 2,460 Required: What is the net cash provided by operating activities? O $1,076 inflow O $1,378 inflow O $510 inflow O $444 inflow What is the net cash provided by investing activities? O $2,203 outflow O $2,354 outflow O $2,019 outflow O $2,170 outflow What is the net cash flow by financing activities? O $1,627 inflow O $1,957 inflow O $2,130 inflow O $2,460 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