Prepare a statement of cash flows using indirect method
Homework Answers
Cash Flow Statement
For the year ended December 31, 2018
|
Particulars |
$ |
$ |
|
||
|
Net income |
25,000 |
|
|
Add: Adjustments to reconcile net income to net cash provided by operating activities |
||
|
Depreciation on property, plant and equipment |
5,000 |
|
|
Add: Increase in current liabilities |
||
|
Income tax payable |
5,000 |
|
|
Less: Decrease in current liabilities |
||
|
Accounts payable |
- 13,000 |
|
|
Increase in current assets |
||
|
Accounts receivable |
- 11,000 |
|
|
Inventory |
- 16,000 |
|
|
Net cash provided by Operating Activities |
- 5,000 |
|
|
||
|
Sale of property, plant and equipment |
12,000 |
|
|
Purchase of property, plant and equipment |
- 6,000 |
|
|
Net cash provided by Investing Activities |
6,000 |
|
|
||
|
Issue of Bonds |
10,000 |
|
|
Dividend paid |
- 20,000 |
|
|
Net cash used in Financing Activities |
- 10,000 |
|
|
Net increase in Cash and Cash Equivalents(I +II +III) |
- 9,000 |
|
|
Add: Cash in the beginning of the period |
33,000 |
|
|
Cash at the end of the period |
24,000 |
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