Question
Cellular accountants have assembled the following data for the year ended JuneJune 30, 20162016: LOADING... Cash receipt from sale of land $32,000 Net income $60,000
Cellular accountants have assembled the following data for the year ended
JuneJune
30,
20162016:
LOADING...
| Cash receipt from sale of land | $32,000 | Net income | $60,000 |
| Depreciation expense | 15,000 | Cash purchase of equipment | 41,000 |
| Cash payment of dividends | 5,900 | Decrease in current liabilities | 21,000 |
| Cash receipt from issuance of common stock | 18,000 | Increase in current assets other than cash | 27,000 |
Prepare Winding RoadWinding Road
Cellular's statement of cash flows using the indirect method for the year ended JuneJune 30,2016.
Assume beginning and ending Cash are $46,000 and $76,100,
respectively.
Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use parentheses or a minus sign for numbers to be subtracted. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.)
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| Winding Road Cellular | ||
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| Statement of Cash Flows | ||
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| Year Ended June 30, 2016 | ||
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| Cash Flows from Operating Activities: |
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| Net Income |
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| Adjustments to Reconcile Net Income to |
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| Net Cash Provided by Operating Activities: |
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| Net Cash Provided by (Used for) Operating Activities |
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| Cash Flows from Investing Activities: |
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| Net Cash Provided by (Used for) Investing Activities |
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| Cash Flows from Financing Activities: |
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| Net Cash Provided by (Used for) Financing Activities |
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| Net Increase (Decrease) in Cash |
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| Cash Balance, June 30, 2015 |
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| Cash Balance, June 30, 2016 |
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Skills For Accounting And Auditing Research
Authors: Shelby Collins
2nd Edition
1618530747, 9781618530745
