Question

Score: 0 of 10 pts 6 of 63 complete HW Score: 50.76%, 33.5 of 66 pts S11-7 (similar to) Assigned Media Question Help Edgardo Corporation accountants have assembled the following data for the year ended June 30, 2018 U (Click the icon to view the date) Prepare Edgardo 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. The 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) Edgardo Corporation Statement of Cash Flows (Indirect Method) Year Ended June 30, 2018 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by used for operating activities

Answer 1

Edgardo Corporation 66000 Statement of Cashflows-Indirect Method For the Year ended 30.6.2018 Cashflow from Operating Activity Net Income Adjustments: Depreciation Increase in Current Assets other than cash Decrease in Current Liabilities Cash generated from Operating Activity Statement of Income For the period ending 30.6.2018 Sales Revenue Cost of goods sold Gross Profit Other Operating expense 32000 Depreciation Expense 14000 Net Income 228000 -116000 112000 14000 -29000 - 12000 46000 66000 -27000 39000 Cashflow from Investing Activity Purchase of Equipment Sale of Land Cash used for Investing Activity -35000 31000 -4000 Cashflow from Financing Activity Payment of Dividends Common Stock issued Treasury Stock purchased Payment of Note Payable Cash used for Financing Activity Net Increase in Cash Beginning Cash balance (not provided) Ending Cash Balance -10000 25000 -11000 -32000 -28000 7000