Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Williams Corporation accountants have assembled the following data for the year ended June 30, 2018: (Click the icon to view the data.) Prepare Williams Corporation's

image text in transcribed
Williams Corporation accountants have assembled the following data for the year ended June 30, 2018: (Click the icon to view the data.) Prepare Williams Corporation's statement of cash flows for the year ended June 30, 2018. The company uses the indirect method for operating activities. Begin by completing the cash flows from operating activities. Then complete the remaining sections of the cash flow statement. (Use parentheses or a minus sign for numbers to be subtracted and for a net decrease in cash.) Williams Corporation Statement of Cash Flows (Indirect Method) Year Ended June 30, 2018 Cash flows from operating activities: Net income 82000 Adjustments to reconcile net income to net cash provided by (used for) operating activities: Depreciation 7000 Decrease in current liabilities 8000 Net cash provided by (used for operating activities 102000 Data Table - X Net income $? Cost of goods sold $ 110,000 Payment of dividends 10,000 Other operating expenses Purchase of equipment 31,000 Proceeds from the issuance of common stock 25,000 with cash 43,000 Sales revenue 230,000 Decrease in current liabillites 8,000 Increase in current assets Payment of note payable 33,000 other than cash 35,000 Proceeds from sale of land 32,000 Purchase of treasury stock 7,000 Depreciation expense 7,000

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

Iso 9000 Quality Systems Auditing

Authors: G. D. Green, Dennis Green

1st Edition

0566079003, 978-0566079009

More Books

Students also viewed these Accounting questions