Question
Maggna Inc had the following transactions during the current financial reporting period. Net Income $86,000 Depreciation $18,000 Decrease in accounts receivable $35,000 Increase in inventories
| Maggna Inc had the following transactions during the current financial reporting period. | |||||
| Net Income | $86,000 | ||||
| Depreciation | $18,000 | ||||
| Decrease in accounts receivable | $35,000 | ||||
| Increase in inventories | $14,500 | ||||
| Increase in accounts payable | $34,000 | ||||
| Decrease in income taxes payable | $36,700 | ||||
| Decrease in wages payable | $18,000 | ||||
| Proceeds on Sale of Equipment | $80,000 | ||||
| Repayment of bonds | $50,000 | ||||
| Issuance of Common shares | $10,000 | ||||
| Proceeds on sale of land | $50,000 | ||||
| Loss on sale of land | $20,000 | ||||
| Payment of dividends | $40,000 | ||||
|
Required: Determine the cashflow for Operating, Investing & Financing activities for the company and calculate the net change in cash using the Indirect Method | |||||
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