Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Help!! Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows (indirect method)

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedHelp!!

Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows (indirect method) for ATM Software Developers. All amounts are in thousands (000s). ATN SOPTWARE DEVELOPERS Statement of Cash Flows For the year ended December 31, 2021 Cash Flows from Operating Activities Net income Adjustments to reconcile net income to net cash flows from operating activities! Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Not increase (decrease in cash Caah at the beginning of the period Ceah at the end of the period $1,725 B, 215 $ 9,940 Listed below in random order are line items to be included in the statement of cash flows. Caab received from the sale of land Issuance of common stack Depreciation expense Increase in accounts receivable DRCTASSA in accounts payable Issuance of long-term rotes payable Purchase of equipment DRCTAs in inventory Decrease in prepaid rent Payment of dividends Not income Purchase of treasury stock $ 8,480 12,650 5, 3B0 3,920 1.675 16,070 39,440 1,390 820 6.200 10,300 2,530 Prepare the statement of cash flows for ATM Software Developers using the indirect method. (List cash outflows and any decrease in cash as negative amounts. Enter your answers in thousands (i.e., 10,000,000 should be entered as 10,000).) ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities Cash received from sale of land Decrease in accounts payable Decrease in inventory Decrease in prepaid rent Depreciation expense Nel cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Required: Prepare the statement of cash flows for ATM Software Developers using the indirect method. (List cash outflows and any decrease in cash as negative amounts. Enter your answers in thousands (i.e., 10,000,000 should be entered as 10,000).) ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities Net income Net loss Payment of dividends Purchase of equipment Purchase of treasury stock Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Gach Flure from Financing Activities For the Year Ended December 31, 2021 El Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows frumri financing activities Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from Investing activities Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions