Question
Visual Inspection Noble Company's accounting records provided the following changes in account balances and other information for 2016: Net Changes for 2016 Debit Credit Cash
Visual Inspection
Noble Company's accounting records provided the following changes in account balances and other information for 2016:
Net Changes for 2016 | ||||
---|---|---|---|---|
Debit | Credit | |||
Cash | $2,000 | |||
Accounts Receivable | $1,900 | |||
Inventory | 2,400 | |||
Land | 1,700 | |||
Buildings and Equipment | 23,000 | |||
Accumulated Depreciation | 4,500 | |||
Accounts Payable | 1,600 | |||
Salaries Payable | 600 | |||
Bonds Payable | 5,000 | |||
Common Stock, no par | 3,000 | |||
Retained Earnings | 5,300 | |||
$25,500 | $25,500 |
Additional information: Net income was $9,900. Dividends were declared and paid. Land was sold for $1,700. No land was purchased. A building was purchased for $23,000. No buildings and equipment were sold. Bonds payable were issued at the end of the year. Two hundred shares of stock were issued for $15 per share. The beginning cash balance was $4,800.
Required:
Using visual inspection, prepare a 2016 statement of cash flows for Noble. Use a minus sign to indicate cash outflows, a decrease in cash or cash payments.
NOBLE COMPANY | ||
Statement of Cash Flows | ||
For Year Ended December 31, 2016 | ||
Operating Activities: | ||
$ | ||
Adjustment for noncash income items: | ||
Adjustments for cash flow effects from working capital items: | ||
$ | ||
Investing Activities: | ||
$ | ||
Financing Activities: | ||
$ | ||
$ | ||
$ |
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