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
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). ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the year ended December 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 Plows 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 $ 3,525 6.490 $10,015 Listed below in random order are line items to be included in the statement of cash flows. 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 loan) Tasuance of common stock Depreciation expense Increase in accounts receivable Decrease in accounts payable Tortance of long-tere notes payable Purchase of equipment Decrease in inventory Decrease in prepaid rent Payment of dividenda Net Income Purchase of treasury stock $ 8,630 13,025 5,455 4,070 1,750 16,445 39,915 1,465 895 6,350 12,200 2,605 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 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_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

How To Beat The IRS At Its Own Game Strategies To Avoid And Fight An Audit

Authors: Amir D Aczel

1st Edition

1568580487, 978-1568580487

More Books

Students also viewed these Accounting questions

Question

1. Describe the power of nonverbal communication

Answered: 1 week ago