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I couldn't solve the problem. Can anyone help ? Data Table (s in thousands) $ 2320 $ (545) (205) (95) (10) (41) (896) More info
I couldn't solve the problem. Can anyone help ?
Data Table (s in thousands) $ 2320 $ (545) (205) (95) (10) (41) (896) More info Tranquil Tub Statement of Cash Flows Year Ended December 31, 20X1 Cash flows from operating activities Cash collections from customers Cash payments Cash payments to suppliers Cash payments to employees Cash payments for other expenses Cash payments for interest Cash payments for income taxes Net cash provided by used for) operating activities Cash flows from investing activities Purchase of plant and facilities Net cash provided by used for) investing activities Cash flows from financing activities Proceeds from issuance of long-term debt Paid dividends Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash balance, December 31, 20x0 Cash balance, December 31, 20X1 $ $ (300) (300) $ 60 (50) 1. Sales of $2,400 were all on Credit Cash collections from customers were $2.320 2. The cost of items sold was $450. Purchases of inventory on account totaled $550 inventory and accounts payable were affected accordingly 3. Cash payments on trade accounts payable totaled 5545 4. Accrued salaries and wages: total expense. S160 cash payments, $205. 5. Depreciation was $25 6. Interest expense all paid in cash, was 510 7. Other expenses, all paid in cash, totaled 595 8. Income taxes accrued were $45: Income taxes paid in cash were $41 9. A warehouse was purchased for $300 cash 10. Long-term debt was issued for 560 cash. 11. Cash dividends of S50 were paid. 10 S 1.134 160 1294 Print Done Print Done Tranquil Tub is a wholesale distributor of ceramic tiles. Its cash balance on December 31, 2010, was S160,000, and not income for 20x1 was $1,615,000. Its 20X1 transactions affecting income or cash follow ($ in thousands); (Click the icon to view the transactions) The company's statement of cash flows with operating activities formatted using the direct method for 20x1 is as follows: Click the icon to view the direct method statement of cash flows) Requirement Prepare a supporting schedule that reconciles net income to net cash provided by operating activities (Enter dollar amounts in thousands. Use parentheses or a minus sign for numbers to be subtracted Leave any unused cells bla 1. Tranquil Tub Supporting Schedule to Statement of Cash Flows Reconciliation of Net Income to Net Cash Flows from Operating Activities Year Ended December 31, 20X1 (s in thousands) Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by (used for) operating activities Net cash provided by used for) operating activitiesStep by Step Solution
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