Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Winding Road Cellular accountants have assembled the following data for the year ended April 30, 2024 (Click the icon to view the data.) Prepare Winding
Winding Road Cellular accountants have assembled the following data for the year ended April 30, 2024 (Click the icon to view the data.) Prepare Winding Road Cellular's statement of cash flows using the indirect method for the year ended April 30, 2024. Assume beginning and ending Cash are $48,000 and $52,200, respectively. Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty, do not select a label or enter a zero.) Winding Road Cellular Statement of Cash Flows Data Table $ 55,000 Year Ended April 30, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation Expense Decrease in Current Liabilities $ Net income $ 55,000 27,000 2,000 $ 2,000 Cash receipt from sale of land Depreciation expense Cash payment of dividends Cash receipt from issuance of common stock Cash purchase of equipment Decrease in current liabilities 44,000 20,000 5,800 (20,000) 17,000 Increase in current assets other than cash 27,000 (27,000) Increase in Current Assets Other than Cash Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: (45,000) () 10,000 ( Print Print Done Net Cash Provided by (Used for) Investing Activities
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