Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Seth Erkanback, a recent college graduate, has just complated the basic format to be usad in preparing the statament of cash flows (indirect method) for

image text in transcribed

Seth Erkanback, a recent college graduate, has just complated the basic format to be usad in preparing the statament of cash flows (indirect method) for ATM Stwre Developers. All amounts are in thousands (000s) ATM SOF TWARE DEVELOPERS Statement of Cash Flows For the year ended December 31, 2019 Cash Flows from Operating Actvities Net income Adjustmants to reconcile net income to net cash flows from operaling activities Net cash fows from operating activities Cash Flows trom Invesing Acimties Net cash tlows from investing activties Cash Flows from Financing Activities Net cash Iows from financing activities Net increase (decreese in cash Cash at the beginning of the peniod S 3,765 7,510 Cash at the end of the penod S 11,275 Listed below in random order are line items to be included in the statement of cash flows Cash receved from the sale ofland Issuance of common stock Depreciation expense Increase in accounts receivable Decrease in accounts payable Issuance of long-term notes payable Purchase of equipment Decrease in irventory Decrease in prepaid rent Payment of dividends Nat income Purchase of treasury stodk S 8,650 13,075 5.465 4,090 1,760 16,495 39.865 1.475 905 6.370 12.400 2815 Required: Prepare the statement of cash flovws for ATM Softrare Developers using the indirect methad. (List cash outflows and any decrease in cash as negative amounts. Enter your answers in thousands (i.,10,000,000 should be entered as "10,000)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions