Question
Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Sales 180,000 Accounts Receivable Increase 10,000
Hampton Company reports the following information for its recent calendar year.
Income Statement Data | Selected Year-End Balance Sheet Data | |||
Sales | 180,000 | Accounts Receivable Increase | 10,000 | |
Expenses | Inventory Increase | 10,000 | ||
Cost of Goods Sold | 100,000 | Salaries Payable Increase | 1,000 | |
Salaries Expense | 24,000 | |||
Depreciation Expense | 15,000 | |||
Net Income | 41,000 |
Prepare the operating activities section of the statement of cash flows for Hampton Company using the indirect method, by filling in the blanks with the appropriate account name and amount.
Statement of Cash Flows | |
Operating Section (Indirect Method) | |
1 | 2 |
3 | 4 |
5 | 6 |
7 | 8 |
9 | 10 |
Net Cash Inflow(Outflow) from Operating Activities | 11 |
Instructions: In the first blank, provide the account name or amount that should be shown in the cell marked by the number 1. In the second blank, provide the account name or amount that should be shown in the cell marked by the number 2. In the third blank, provide the account name or amount that should be shown in the cell marked by the number 3. And so on and so forth. For account names, use the exact name shown in the calendar year information given. For amounts, make sure that amounts are in comma format and are rounded to the nearest dollar (no decimals). Also for amounts, if the amount is to be subtracted show it in parentheses. For example, (1,000) means that 1,000 is subtracted or is considered an outflow of cash. Finally for the cell marked with number 11, if it is an overall cash outflow from operating activities, ensure that you show the number in parentheses. If it is an overall cash inflow from operating activities, do not show parentheses around your answer.
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