Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the current year ended December 31. Cash and cash equivalents, Jan. 1

The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the current year ended December 31.

image text in transcribedimage text in transcribed
Cash and cash equivalents, Jan. 1 $ 35,800 Cash and cash equivalents, Dec. 31 190,100 Cash paid to acquire plant assets 24,000 Proceeds from short-term borrowing 10,000 Loans made to borrowers 4,000 Collections on loans [excluding interest] 4,000 Interest and dividends received 32,300 Cash received from customers 905,000 Proceeds from sales of plant assets 9,000 Dividends paid 52,000 Cash paid to suppliers and employees 629,000 Interest paid 19,000 Income taxes paid 30,000 ' Uaing this information. prepare a statement of cash flows under direct method. [List any deduction in cash and cash outows as negative amounts.) WYOMING OUTFITTERS, INC. Statement of Cash Flows For the Year Ended December 31, Current Year Cash flows from operating activities: Net cash flow from operating activities Cash flows from investing activities: Cash flows from financing activities: Cash and cash equivalents, January 1, current year Cash and cash equivalents, December 31, current year

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

Cost-Benefit Analysis For Public Sector Decision Makers

Authors: Diana Fuguitt

1st Edition

1567202225, 9781567202229

More Books

Students also viewed these Accounting questions

Question

Outline Aquinass methodology.

Answered: 1 week ago

Question

iaker tition 3+134: iaker tition 3+134

Answered: 1 week ago

Question

2. Ask questions, listen rather than attempt to persuade.

Answered: 1 week ago