Question
Natalie Daniels has completed the basic format to be used in preparing the statement of cash flows (indirect method) for CPU Hardware Designers. All amounts
Natalie Daniels has completed the basic format to be used in preparing the statement of cash flows (indirect method) for CPU Hardware Designers. All amounts are in thousands (000s). Listed below in random order are line items to be included in the statement of cash flows.
Cash received from the sale of land $ 3,900 Issuance of common stock 250,000 Depreciation expense 20,000 Increase in accounts receivable 60,100 Increase in accounts payable 10,700 Loss on sale of land 7,000 Purchase of equipment 226,000 Increase in inventory 30,200 Increase in prepaid rent 10,300 Payment of dividends 44,800 Net income 73,000 Repayment of notes payable 57,000
Required:
Prepare the statement of cash flows for CPU Hardware Designers using the indirect method. (Amounts to be deducted should be indicated with minus sign. Omit the "$" sign in your response.)
CPU HARDWARE DESIGNERS Statement of Cash Flows For the year ended December 31, 2012 Cash Flows from Operating Activities Net income $ Adjustments for noncash effects: (Click to select) Increase in inventory Depreciation expense Increase in accounts payable Increase in accounts receivable Gain (on sale of land) Loss (on sale of land) Decrease in accounts payable Increase in prepaid rent (Click to select) Gain (on sale of land) Depreciation expense Loss (on sale of land) Increase in accounts payable Increase in inventory Increase in prepaid rent Increase in accounts receivable Decrease in accounts payable Changes in current assets and current liabilities (Click to select) Decrease in prepaid rent Depreciation expense Increase in accounts receivable Decrease in accounts payable Increase in accounts payable Increase in prepaid rent Loss (on sale of land) Increase in inventory (Click to select) Increase in accounts payable Increase in inventory Increase in prepaid rent Increase in accounts receivable Decrease in accounts payable Loss (on sale of land) Decrease in prepaid rent Depreciation expense (Click to select) Depreciation expense Loss (on sale of land) Increase in accounts payable Decrease in prepaid rent Increase in inventory Increase in prepaid rent Decrease in accounts payable Increase in accounts receivable (Click to select) Decrease in accounts payable Loss (on sale of land) Depreciation expense Increase in accounts receivable Decrease in prepaid rent Increase in prepaid rent Increase in inventory Increase in accounts payable Net cash flows from operating activities $ Cash Flows from Investing Activities (Click to select) Increase in accounts payable Cash received from sale of land Decrease in accounts payable Decrease in prepaid rent Increase in inventory Increase in prepaid rent Purchase of equipment Increase in accounts receivable (Click to select) Increase in inventory Decrease in accounts payable Increase in accounts receivable Increase in accounts payable Increase in prepaid rent Purchase of equipment Decrease in prepaid rent Cash received from sale of land Net cash flows from investing activities Cash Flows from Financing Activities (Click to select) Payment of dividends Increase in prepaid rent Increase in inventory Increase in accounts payable Increase in accounts receivable Decrease in accounts payable Issuance of common stock Repayment of notes payable (Click to select) Repayment of notes payable Decrease in accounts payable Increase in accounts receivable Increase in inventory Issuance of common stock Increase in accounts payable Increase in prepaid rent Payment of dividends (Click to select) Repayment of notes payable Increase in accounts receivable Increase in inventory Decrease in accounts payable Issuance of common stock Increase in prepaid rent Payment of dividends Increase in accounts payable Net cash flows from financing activities Net increase (decrease) in cash $ (63,800) Cash at the beginning of the period 84,000 Cash at the end of the period $ 20,200
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