Use this information to prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Solution:
Bonita Industries | ||
Statement of Cash Flows | ||
For the Year ended December 31, 2022 | ||
Particulars | Details | Amount |
Cash Flow from Operating Activities: | ||
Net Income | $2,80,800.00 | |
Adjustments to reconcile net income to cash flow from operating activities: | ||
Depreciation | $72,000.00 | |
Loss on disposal of Equiment | $3,600.00 | |
Increase in Accounts Receivable | -$72,000.00 | |
Increase in inventory | -$79,200.00 | |
Increase in Prepaid expense | -$3,600.00 | |
Accounts payable Increase | $5,400.00 | |
Accrued Expenses Payable decrease | -$18,000.00 | |
-$91,800.00 | ||
Net Cash Flow From Operating Activites (A) | $1,89,000.00 | |
Cash Flow from Investing Activities: | ||
Sale value of Land | $27,000.00 | |
Purchase of Equipemnt | -$2,98,800.00 | |
Sale of Equipment | $61,200.00 | |
Net Cash Flow From Investing Activites (B) | -$2,10,600.00 | |
Cash Flow from Financing Activities: | ||
Payment of Long term debt | -$90,000.00 | |
Issuance of common stock | $3,06,000.00 | |
Cash dividend paid | -$1,53,000.00 | |
Net Cash Flow From Financing Activites (C) | $63,000.00 | |
Total Cash flow from all activities (A+B+C) | $41,400.00 | |
Cash at the beginning of the year | $64,800.00 | |
Cash at the end of year | $1,06,200.00 |
Use this information to prepare a statement of cash flows using the indirect method. (Show amounts...
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