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I have tgis problem basically done but the website says this specific problem is not complete and was wondering if someone could tell me what
I have tgis problem basically done but the website says this specific problem is not complete and was wondering if someone could tell me what I am missing, thank you.
Using the indirect method, compute the net cash provided by/used in operating activiti cash outflows as negative amounts.) $ 56,000 Joyner Company Statement of Cash Flows Indirect Method (partial) Net income Adjustments to convert net income to a cash basis: Depreciation $ 42,000 Gain on sale of equipment (8,000) Increase in accounts receivable (80,000) Increase in inventory (50,000) Decrease in prepaid expenses 7,000 Increase in accounts payable 60,000 Decrease in accrued liabilities (10,000) Increase in income taxes payable 3,000 (36,000) $ 20,000 Net cash provided by operating activities Required 2 > Prepare a statement of cash flows for Year 2. (List any deduction In cash and cash o Joyner Company Statement of Cash Flows For Year 2 Operating activities: Net cash provided by operating activities Investing activities: Additions to property, plant, and equipment $ (150,000) Proceeds from sale of equipment 18,000 Loan to Hymans Company (40,000) $ 20,000 (172,000) Net cash used in investing activities Financing activities: Cash dividends paid Issuance of common stock Issuance of bonds payable (15,000) 30,000 120,000 + Net cash provided by financing activities 135,000 (17,000) 21,000 4,000 Beginning cash and cash equivalents Ending cash and cash equivalents $ Step by Step Solution
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