The following information is available for XYZ Corporation for the year ended December 31, 2023: Net Income:
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Question:
The following information is available for XYZ Corporation for the year ended December 31, 2023:
- Net Income: $75,000
- Depreciation Expense: $10,000
- Increase in Accounts Receivable: $5,000
- Decrease in Inventory: $3,000
- Increase in Accounts Payable: $7,000
- Purchase of Equipment: $20,000
- Issuance of Common Stock: $30,000
- Payment of Dividends: $8,000
Requirements:
- Prepare the operating activities section of the cash flow statement using the indirect method.
- Calculate the net cash provided by (used in) operating activities.
- Prepare the investing activities section of the cash flow statement.
- Prepare the financing activities section of the cash flow statement.
- Calculate the net increase (decrease) in cash for the year.
Related Book For
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
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