Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can someone help me woth this statement of cash flows problem? Statement of Cash Flows-indirect Method The comparative balance sheet of Merrick Equipment Co. for
can someone help me woth this statement of cash flows problem?
Statement of Cash Flows-indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31,20Y9 and 20Y8, is as follows: Llabulities and Stockholders' Equity Required: Prepare s statement of cash fiows, using the indirect method of presenting cash flows from operating octivities. Use the minus sign to indicate cash outnow cash poyments, decreases in cash, or any negative adjustments. Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 20 Y9 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Loss on sale of investments Changes in current operating assets and liabilities: Increase in accounts receivable Increase in inventories Increase in accounts payable Decrease in accrued expenses payable Net cash flow from operating activities Cash flows from (used for) investing activities: Cash from sale of investments Cash used for purchase of tand Cash used for purchase of equipment Net cash flow used for investing activities Cash flows from (used for) financing activities: Net casn flow from operating activities Cash frows from (used for) investing activites: Cash from sale of investments v Cash used for purchase of land v Cash used for purchase of equipment Net cash flow used for investing activities Cash flows from (used for) financing activities: Cash from sale of common stock Cash used for dividends Net cash flow from financing activities Increase in cash Cash at the beginning of the year Cash at the end of the year 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