Homework Answers
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WICKERSHAM BROTHERS INC. STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31 |
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| Cash flow from operating activity | ||
| Net income | 91160 | |
| Adjustment to reconcile net income to net cash flow from operating activities | ||
| Depreciation | 28840 | |
| Increase in accounts receivable | (18000) | |
| Decrease in inventory | 9000 | |
| Decrease in accounts payable | (3600) | |
| Increase in salaries and wage payable | 1800 | |
| 18040 | ||
| Net cash flow from operating activities | 109200 | |
| cash flow from investing activity | ||
| Purchase of equipment | (98000) | |
| Net cash flow from investing activities | (98000) | |
| cash flow from financing activities | ||
| Repayment of long term note payable | (18000) | |
| Issue of common stock | 20000 | |
| Cash dividend paid | (30900) | |
| Net cash flow from financing activities | (28900) | |
| Net increase/(decrease) in cash and cash equivalent | (17700) | |
| Beginning cash balance | 134400 | |
| Cash balance at end | 116700 | |
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Having a hard time with this
one. Can someone please help with this statement of cash
flows?
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