Question

CHS HW Required A Player webcourses.ucf. Tues CH SHW Required webcourses udledu Assignments View Policies Current Attempt in Progress Grades Quizzes The following is a condensed version of the comparative balance sheets for Teal Modules Corporation for the last two years at December 31. Wiley Accounting Weekly Updates Cash Discussions Accounts receivable WileyPLUS Support Investments Adopt Materials Buy Materials Equipment 2020 2019 $ 230,100 $101.400 234.000 240,500 67,600 96,200 387,400 312,000 (137,800) (115,700) 174,200 196,300 208,000 208,000 399,100 230,100 Accumulated Depreciation-Equipment Success Resources Current liabilities Common stock Retained earnings Additional information: Investments were sold at a loss of $13,000; no equipment was sold; cash dividends paid were $39,000; and net income was $208,000. Prepare a statement of cash flows for 2020 for Teal Corporation. (Show amounts that decrease cash flow with either a-sign e g. -15,000 or in parenthesises (15,000)) TEAL CORPORATION e here to search 1131 AM 2/19/2020

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Answer 1

Teal Corporation
CASH FLOW STATEMENT
for the year ended 31st December 2020
Particulars			$	$	$
I		Cash flow from Operating Activities
		Net Income for the year		208,000
	Add:	Non Cash/Non Operating Expenses
		Depreciation for the year	22,100
		( $ 137,800 - $ 115,700 )
		Loss on sale of Investments	13,000	35,100
	Add/Less:	Changes in Working Capital
		Cash outflow from decrease in Current Liabilities
		( $ 174,200 - $ 196,300 )	-22,100
		Cash inflow from decrease in Accounts Receivables
		( $ 240,500 - $ 234,000 )	6,500	-15,600	227,500
II		Cash flow from Investing Activities
		Proceeds inflow from sale of Investments	15,600
		($ 96,200 - $ 13,000 - $ 67,600)
		Cash outflow from purchase of Equipment	-75,400
		( $ 387,400 - $ 312,000)			-59,800
III		Cash flow from Financing Activities
		Cash outflow from payment of dividend			-39,000
		Net change in cash & cash equivalents (I + II + III)			128,700
	Add:	Opening cash and cash equivalents			101,400
		Closing Cash and Cash Equivalents			230,100