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 method for

image text in transcribed
image text in transcribed
image 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 method for ATM Software Developers. All amounts are in thousands (000s) AT BOTWARE DEVELOPERS Statement of Cash Flowe For the year ended December 31, 2021 Cash Flows from Operating Activities Net Income Adjustments to reconcile not come to net cash flow from operating activities Net cash flow from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Set cash love from financing activities et nere decrease in cash Cash at the beginning of the period Cash at the end of the period 33.045 6.950 59,999 Listed below in random order are line items to be included in the statement of cash flows. Cash received from the sale of land (no gain or lou) $ 8,590 Issuance of common stock 12,925 Depreciation expense 5,435 Increase in accounts receivable 4.030 Decrease in accounts payable 1.730 Issuance of long-tere notes payable 16,345 Purchase of equipment 39.715 Decrease in inventory 1,445 Decrease in prepaid rent 875 Payment of dividenda 6,310 Set income 11,800 Purchase of treasury stock 2,585 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 (.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 $ 0 Net cash flows from operating activities Cash Flows from Investing Activities 0 Net cash flows from investing activities Cash Flows from Financing Activities $ 0 Net cash flows from operating activities Cash Flows from Investing Activities 0 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 $ 0

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

The Impact Of Globalization On International Finance And Accounting

Authors: David Procházka

1st Edition

3319687611, 9783319687612

More Books

Students also viewed these Accounting questions