Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Ames Company reported 2014 net income of $153,450. During 2014, accounts receivable increased by $14,630and accounts payable increased by $9,880. Depreciation expense was $42,050. Prepare
Ames Company reported 2014 net income of $153,450. During 2014, accounts receivable increased by $14,630and accounts payable increased by $9,880. Depreciation expense was $42,050.
Prepare the cash flows from operating activities section of the statement of cash flows.(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Ames Company Cash Flow Statement For the year 2014 | |
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash | |
Decrease in Accounts PayableDecrease in Accounts ReceivableNet IncomeDepreciation ExpenseIncrease in Accounts ReceivableIncrease in Accounts Payable | $ |
Adjustments to reconcile net income to | |
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash | |
Depreciation ExpenseIncrease in Accounts PayableIncrease in Accounts ReceivableDecrease in Accounts PayableDecrease in Accounts ReceivableNet Income | $ |
Increase in Accounts ReceivableDepreciation ExpenseIncrease in Accounts PayableDecrease in Accounts PayableDecrease in Accounts ReceivableNet Income | |
Decrease in Accounts ReceivableDepreciation ExpenseNet IncomeDecrease in Accounts PayableIncrease in Accounts PayableIncrease in Accounts Receivable | |
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash | $ |
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