Question

I need the solution to this ASAP, and I would really appreciate it!

Answer 1

Harris Industries, Inc. Statement of Cash Flows For the year ended December 31, 2014 5,24,580 74,340 5,040 Particulars (1). Operating Activities Net income Adjustments to reconcile net income to net cash flow from Operating Activities Depreciation (51660+22680) Patent Amortization Changes in Current Operating Assets and Liabilities Accounts Receivable (592200-665280) Inventories (1022560-887880) Prepaid Expenses (25200-31640) Accounts Payable (837480-927080) Salaries Payable (78960-87080) Net Cash Flow from Operations (1) -73,080 1,34,680 -6,440 -89,600 -8,120 5,61,400 (11). Investing Activities Construction of Building Net Cash Used in Investing Activites (1) -5,79,600 -5,79,600 (). Financing Activities Cash received from issuance of mortgage note (-) Cash paid for Dividends (25200+131040-32760) Cash Flow from Financing Activities (111) 2,24,000 -1,23,480 1,00,520 (iv). Change in Cash (1+11+111) (V). Cash at the beginning of the year Cash at the end of the Year (IV+V) 82,320 3,60,920 4,43,240 Note Bonds converted into common stock will not affect cash flow position, hence ignored.