Question
Alley Cellular accountants have assembled the following data for the year ended June 30, 2024: Prepare the operating activities section using the indirect method for
Alley
Cellular accountants have assembled the following data for the year ended
June
30,
2024:
Prepare the operating activities section using the indirect method for
Alley
Cellular's statement of cash flows for the year ended
June
30,
2024.
(Use a minus sign or parentheses for amounts that result in a decrease in cash.)
| Alley Cellular | |||
| Statement of Cash Flows (Partial) | |||
| Year Ended June 30, 2024 | |||
| Cash Flows from Operating Activities: | |||
| Net Income | |||
| Adjustments to Reconcile Net Income to | |||
| Net Cash Provided by Operating Activities: | |||
| Net Cash Provided by (Used for) Operating Activities | |||
| Cash receipt from sale of land | $30,000 | Net income | $62,000 |
| Depreciation expense | 4,000 | Cash purchase of equipment | 40,000 |
| Cash payment of dividends | 6,000 | Decrease in current liabilities | 18,000 |
| Cash receipt from issuance of common stock | 28,000 | Increase in current assets other than cash | 13,000 |
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