Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Swifty Corporation's comparative balance sheets are as follows. Additional information: 1. Net income was $18,550. Dividends declared and paid were $14,100. 2. Equipment which cost

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Swifty Corporation's comparative balance sheets are as follows. Additional information: 1. Net income was $18,550. Dividends declared and paid were $14,100. 2. Equipment which cost $10,000 and had accumulated depreciation of $1,500 was sold for $3,500. 3. No noncash investing and financing activities occurred during 2022. 4. Bonds were retired at their carrying value. Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with elther a-sign eg. 15,000, or in parenthesis eg. (15,000).) Attempts: 0 of 1 used Submit Answer Save for later Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Compute free cash flow. (Enter negative amount using elther a negotive sign preceding the number eg. 45 or parentheses eg. (45).) Free cash flow Attempts: 0 of 1 used Swifty Corporation's comparative balance sheets are as follows. Additional information: 1. Net income was $18,550. Dividends declared and paid were $14,100. 2. Equipment which cost $10,000 and had accumulated depreciation of $1,500 was sold for $3,500. 3. No noncash investing and financing activities occurred during 2022. 4. Bonds were retired at their carrying value. Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with elther a-sign eg. 15,000, or in parenthesis eg. (15,000).) Attempts: 0 of 1 used Submit Answer Save for later Cash at Beginning of Period Cash at End of Period Cash Flows from Financing Activities Cash Flows from Investing Activities Cash Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Compute free cash flow. (Enter negative amount using elther a negotive sign preceding the number eg. 45 or parentheses eg. (45).) Free cash flow Attempts: 0 of 1 used

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 Complete Guide To Operational Auditing

Authors: Harry R. Reider

1st Edition

0471594199, 978-0471594192

More Books

Students also viewed these Accounting questions