Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information is available for Pharoah Company for the year ended December 31, 2022. Prepare a statement of cash flows using the indirect method.

image text in transcribed
image text in transcribed
image text in transcribed
The following information is available for Pharoah Company for the year ended December 31, 2022. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign eg- 15,000 parenthesis eg. (15,000). Pharoah Company Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2022 Cash Flows from Operating Actlvitles Net Income $8860 Adjustments to reconcile net income to Net Cash Provided by Operating Actlvitles v Depreclation Expense Increase in Accounts Payable Decrease in Accounts Recelvable Decrease in Inventory Decrease in Income Taxes Payable v Net Cash Provlded by Operating Actlvitles Cash Flows from Investing Activities Purchase of Land Sale of Land Sale of Land \begin{tabular}{|l|} \hline 161200 \\ \hline \end{tabular} Cash Flows from Financlng Actlvitles Sale of Land 161200 \begin{tabular}{|l|l|l|} \hline Redemption of Bionds & & 125550 \\ \hline Iasuance of Stock & \\ \hline \end{tabular} Net Cash Provlded by Flnanclng Actlvities Net Cash used by Financing Actlvitles Cash at Beginning of Perlod

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

Buck's The Next Step Advanced Medical Coding And Auditing

Authors: Elsevier

1st Edition

0323762778, 978-0323762779

More Books

Students also viewed these Accounting questions

Question

BPR always involves automation. Group of answer choices True False

Answered: 1 week ago