Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the year ended December 31, 2015: Cash and cash equivalents, Jan. 1
The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the year ended December 31, 2015:
Cash and cash equivalents, Jan. 1 | $ | 35,800 |
Cash and cash equivalents, Dec. 31 | 236,000 | |
Cash paid to acquire plant assets | 24,000 | |
Proceeds from short-term borrowing | 10,000 | |
Loans made to borrowers | 4,300 | |
Collections on loans (excluding interest) | 4,000 | |
Interest and dividends received | 40,500 | |
Cash received from customers | 905,000 | |
Proceeds from sales of plant assets | 9,000 | |
Dividends paid | 49,000 | |
Cash paid to suppliers and employees | 602,000 | |
Interest paid | 19,000 | |
Income taxes paid | 70,000 | |
Using this information, prepare a statement of cash flows under direct method. (List any deduction in cash and cash outflows as negative amounts.)
There was a chart below that I couldnt paste, but it was dealing with "Wyoming Outfitter Inc", Statement of Cash Flow", abd "For the year ended December 31, 2015. I ask this question yesterday, but didn't understand the answer to it. Thanks in advance! |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started