Use the data in Starter 17-5 to prepare Napanee Resources Inc.'s complete cash flow statement for the

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Use the data in Starter 17-5 to prepare Napanee Resources Inc.'s complete cash flow statement for the year ended June 30, 2014. Napanee uses the direct method for operating activities. Use Exhibit 17-12 on page 1069 as a guide, but you may stop after determining the net increase (or decrease) in cash.

EXHIBIT 17-12 | Cash Flow Statement (Direct Method for Operating Activities) CAPILANO LTD. Cash Flow Statement For the Y


Data From 17-5

Napanee Resources Inc. has assembled the following data for the year ended June 30, 2014.
Payment of dividends ............................................................... $ 12,000
Cash received from issuing shares .......................................... 40,000
Collections from customers ...................................................... 400,000
Cash received from sale of land ............................................... 120,000
Payments to suppliers ............................................................... 220,000
Purchase of equipment .............................................................. 80,000
Payments to employees ............................................................. 140,000
Payment of note payable ........................................................... 60,000

Prepare only the operating activities section of Napanee’s cash flow statement for the year ended June 30, 2014. Napanee uses the direct method for operating cash flows.

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Accounting

ISBN: 978-0132690089

9th Canadian Edition volume 2

Authors: Charles T. Horngren, Walter T. Harrison Jr., Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood

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