Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows indirect methods for

image text in transcribedimage text in transcribed

Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows indirect methods for ATM Software Developers. All amounts are in thousands (000s). ATM SOFTWARE DEVELOPERS Statenent of Cash Flows For the year ended Decenter 31, 2021 Cash Flows from Operating Activities Net income Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from Investing activities Cash Flows from Financing Activities Net cash flows from financing activities Net increase (decrease) in cash Cash at the beginning of the period Cash at the end of the period $ 3,285 6,720 $10,ees Listed below in random order are line items to be included in the statement of cash flows. Cash received from the sale of land Issuance of common stock Depreciation expense Increase in accounts receivable Decrease in accounts payable Issuance of long-tere notes payable Purchase of equipment Decrease in inventory Decrease in prepaid rent Payment of dividends Net income Purchase of treasury stock $ 8,618 12,975 5,445 4,050 1,748 16,395 39,765 1,455 885 6,338 12,600 2,595 Required: Prepare the statement of cash flows for ATM Software Developers using the Indirect method. (List cash outflows and any decrease in cash as negative amounts. Enter your answers in thousands (L.e., 10,000,000 should be entered as 10,000).) ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period

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_2

Step: 3

blur-text-image_3

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

Sound Investing, Chapter 24 - The Auditors??? Opinion

Authors: Kate Mooney

2nd Edition

0071719466, 9780071719469

More Books

Students also viewed these Accounting questions

Question

IN JAVA Implement the priority queue ADT by using an array

Answered: 1 week ago

Question

consider how qualitative data can add value to your research;

Answered: 1 week ago

Question

consider the use of electronically obtained qualitative data;

Answered: 1 week ago