Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

plz help thank you Zumiez Incorporated is a Washington-based clothing and ski/skate accessories retailer. In a recent quarter, it reported the following activities: Required: Based

plz help thank you
image text in transcribed
image text in transcribed
image text in transcribed
Zumiez Incorporated is a Washington-based clothing and ski/skate accessories retailer. In a recent quarter, it reported the following activities: Required: Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement. (Amounts to be deducted should be indicated with o minus sign.) XS Supply Company is developlng its armual financial statements at December 31. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarixed: Additional Dete: a. Bought echuipment for cash, $24,000 b. Paid $6.600 on the long-term notes payable. c. Issued thew shares of stock for $19.000 cash. a. No dividends were declared or paid. e Other expenses included depreciation, $5,600; salaries and wages, $20,600; taxes, $6,600; utilies, $7,400. f Accounts Payable includes only inventory purchases made on credit Because there are no llability accounts relating to taxes of other experises, assame that these expenses were fully paid in cash. Additional Dnto: a. Bought equipment for cast, $24,000. b. Pald $6,600 on the long-term notes payable: c. Issued new shares of stock for $19.000 cash. d. No dividends were declared or paid. e. Other expenses included depreclation, $5,600; salaries and wages, $20,600; taxes. $6.600, utintes, $7.400 f. Accounts Payable includes only inventory purchases made on credit. Because there ari no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash. Required: 1. Prepare the statement of cash flows for the current year ended December 31 using the indirect method. (Amounts to be deducted should be indicoted with o minus sign.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Front Office Operations And Auditing Workbook

Authors: Patrick J. Moreo, Gail Sammons, Jeff Beck

2nd Edition

0130324930, 978-0130324931

More Books

Students also viewed these Accounting questions