Homework Answers
Statement of cash flows
| Operating activities | |
| Net income | $5,562 |
| Depreciation | $4,304 |
| Net change in current accounts(wn-1) | $1,349 |
| Cash from operating activities | $11,215 |
| Investing activities | |
| Increase in fixed assets | ($6,068) |
| Cash from Investing activities | ($6,068 |
| Financing activities | |
| Decrease in debt | ($7,655) |
| Dividends paid | ($2,900) |
| Sale of stock | $4,800 |
| Cash from Financing activities | ($5,755) |
| Net cash flow | ($608) |
Reconciliation
| Beginning cash | $3,225 |
| Net casg flow | ($608) |
| Ending cash | $2,617 |
Working notes:
Decrease in accounts receivable =$2,283
Increase in inventory =($1,245)
Increase in accounts payable=$560
Decrease in accurals =($249)
Net change in current accounts =$1,349
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Current
Year
Previous
Year
Balance Sheet at December 31
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$
40,000
$
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Accounts Receivable
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16,000
Inventory
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16,000
Equipment
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142,000
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)
(37,000
)
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228,000
$
184,400
Accounts Payable
$
7,200
$
17,400
Salaries and Wages Payable...
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Current
Year
Previous
Year
Balance Sheet at December 31
Cash
$
40,000
$
47,400
Accounts Receivable
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16,000
Inventory
17,200
16,000
Equipment
207,000
142,000
Accumulated Depreciation—Equipment
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Total Assets
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228,000
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Accounts Payable
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