P16-39AHomework Answers
Answer
We are preparing cash flow statement of Digital Subscriptions, Inc for the year ended Dec 2008
1.
Cash Flow Statement of Digital Subscriptions, Inc for the year ended Dec 2008
| Particulars | 31-Dec-08 | $ |
| Cash Flow from Operating Activities | ||
| Net Profit before taxation and Extraordinary item | 78500 | |
| (61600+16900) | ||
| Adjustment for : | ||
| Depreciation | 15300 | |
| Interest Expenses | 24600 | |
| (-) Interest Expenses | -11700 | |
| Operating Profit before Working Capital Changes | 106700 | |
| Increase in accounts receivables | -3400 | |
| Decrease in Inventory | 5600 | |
| Increase in accounts Payable | 1300 | |
| Decrease in Accrued Liabilties | -600 | |
| Cash generated From Operations | 109600 | |
| Income Tax paid | -16900 | |
| Net Cash from operating Activities | 92700 |
2.
The indirect method for the preparation of the statement of cash flows involves the adjustment of net income with changes in balance sheet accounts to arrive at the amount of cash generated by operating activities. The statement of cash flows is one of the components of a company's set of financial statements, and is used to reveal the sources and uses of cash by a business. It presents information about cash generated from operations and the effects of various changes in the balance sheet on a company's cash position
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P16-39A
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