Answered step by step
Verified Expert Solution
Question
1 Approved Answer
CHECK FIGURE: Net cash inflow from operating activities $67,200 Talware Networx Inc.'s balance sheet and income statement are as follows inc income Statement For Year
CHECK FIGURE: Net cash inflow from operating activities $67,200 Talware Networx Inc.'s balance sheet and income statement are as follows inc income Statement For Year Ended December 31, 2014 Comparative Balance Sheet Informatien December 31 s 81,200 S $4,600 284,200 249 200 2014 2013 $929 Asset ast of goods sod srecevable Merchandbe Iventary. Depredatiod expense Accumalated depreciation 233 800 491,400 432,600 259,000 Uab littes and Equity Accounts payable am trom operations ncome tixes s 32,200 s 44,800 12,6001,200 -.. 0 364,000 ,336,000 82,60040,60D 5 491, 400 5432.600 come taxes payabie.. Common shjares al Nabilides and Additional information regarding Talware's activities during 2014 Equipment is purchased for $16,800 cash. a. b. 11,200 common shares are issued for cash at $2.50 per share. c. Declared and paid $51,800 of cash dividends during the year Question 1 Prepare a statement of cash flows for 2014 that reports the cash inflows and outflows from operating activities according to the indirect method. Show your supporting calculations 10 Marks Question 2 2 Marks Anaysis Component: Assume that Talware had a net loss instead of a net income. Does a net loss mean that there will always be a cash outflow from operating activities on the sta flows? tement of cash
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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