Question
Prepare Cash Flow Statement for XYZ company for the year ending Dec. 31,2013. Identifying: Cash flow from operating activites, cash flow from invensting activities, and
Prepare Cash Flow Statement for XYZ company for the year ending Dec. 31,2013.
Identifying: Cash flow from operating activites, cash flow from invensting activities, and cash flow from financing activities as well as total change in cash and cash balance on Dec. 31, 2013 :
Net Income, 2013........................................1,446,000
Depr. expense.................................................260,000
Gain on sale of a machine.................................80,000
Decrease in Accts receiveble...........................122,000
Increase in inventory.........................................215,000
Increase in current liablities...............................312,000
Equipment sold..................................................764,000
Machines purchased.......................................1,320,000
Bonds payable paid.........................................1,830,000
Common stock issued (sold)...........................2,300,000
Dividends paid....................................................630,000
Cash Balance, Jan. 1, 2013...........................$1,280,000
Net Change in cash in 2013................. ?
Cash Balance, Dec. 31, 2013 ................. ?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started