Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Statement of Cash Flows (Short Answer) Use the following information to perform the calculations below (using the indirect method). Clearly label the amount of each

Statement of Cash Flows (Short Answer) Use the following information to perform the calculations below (using the indirect method). Clearly label the amount of each answer as positive or negative. Enter your number in whole dollars and use commas and dollar signs. You need to show your calculations. I know that's tedious, but if you don't have the correct answer I need to see the calculation to give you partial credit. Net income $369,000 Beginning Accounts Payable $119,000 Depreciation expense 97,000 Ending accounts payable 146,000 Beginning accounts receivable 420,000 Purchase of equipment for cash 612,000 Ending accounts receivable 439,000 Issuance of long-term debt 200,000 Beginning inventory 516,000 Issuance of stock for cash 160,000 Ending inventory 560,000 Issuance of stock for land 110,000 Beginning prepaid expenses 42,000 Purchase of treasury stock 64,000 Ending prepaid expenses 48,000 Sale of long-term investment at cost 39,000 1. Calculate the amount of cash flows from operations. (Points : 5) 2. Calculate the amount of cash flows from investing activities. (Points : 5) 3. Calculate the amount of cash flows from financing activities. (Points : 5) 4. Calculate the net change in cash. (Points : 5)

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

Quickbooks Online Manual For Small Business

Authors: Ukrainian Printworks

1st Edition

B0C47TPLS5, 979-8393942502

More Books

Students also viewed these Accounting questions