Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

B Apex Company prepared the statement of cash flows for the current year that is shown below. Apex Company Statement of Cash Flows-Indirect Method Operating

image text in transcribed B Apex Company prepared the statement of cash flows for the current year that is shown below. Apex Company Statement of Cash Flows-Indirect Method Operating activities: Net income Adjustments to convert net income to cash basis: Depreciation $ 41,600 Increase in accounts receivable $ 21,500 (61,100) Increase in inventory (26,900) Decrease in prepaid expenses 10,000 Increase in accounts payable 54,900 Decrease in accrued liabilities: (11,600) Increase in income taxes payable 4,400 Net cash provided by (used in) operating activities (8,800) 32,800 Investing activities: Proceeds from the sale of equipment 15,300 Loan to Thomas Company (40,200) Additions to plant and equipment (121,200) Net cash provided by (used in) investing activities (146,100) Financing activities: Increase in bonds payable 89,200 Increase in common stock 38,700 Net cash provided by (used in) financing activities Beginning cash and cash equivalents Cash dividends Net decrease in cash and cash equivalents Ending cash and cash equivalents Required: 98,700 (14,600) 28,200 $ 13,600 Compute Apex Company's free cash flow for the current year. (Negative amount should be indicated by a minus sign.) Answer is complete but not entirely correct. (29,200) Free sash Bow $ (113.300) Return

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

Accounting Principles Part 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

6th Canadian edition

1118306783, 978-1118728918, 1118728912, 978-1118306789

More Books

Students also viewed these Accounting questions

Question

Coercive power works in the same manner as reward power. Yes No

Answered: 1 week ago