Statement of Cash Flows - Indirect Approach | |||
Amount in $ | Amount in $ | ||
Net income | $ 364 | ||
Cash flows from operating activities | |||
Adjustments for reconcile the net income o net cash provided by operating activities | |||
Income statement items not affecting cash | |||
Depreciation Expenses | $ 875 | ||
Change in current assets and current liabilities: | |||
Increase in account receivable | $ -5,060 | ||
Decrease in inventory | $ -4,200 | ||
Increase on account payable | $ 3,400 | ||
Increase on wages payab;e | $ 250 | ||
Increase on Interest payab;e | $ 1,875 | ||
Increase on Taxes Payable | $ 196 | ||
$ -2,664 | |||
Net cash from operating activities | $ -2,300 | ||
Cash flows from investing activities | |||
Purchase of PPE | $ -75,000 | ||
Purhase of land | $ -2,500 | ||
Net cash used in investing activities | $ -77,500 | ||
Cash flows from Financing activities | |||
Isseue of common stock | $ 5,000 | ||
Isseue of PReferred stock | $ 20,000 | ||
Issue of Notes Payable | $ 75,000 | ||
Net cash used in financing activities | $ 1,00,000 | ||
Net increase in cash and cash equivalents | $ 20,200 | ||
Add :Cash and cash equivalents at beginning of period | $ - | ||
Cash and cash equivalents at end of period | $ 20,200 | ||
Based on the information provided below, prepare a Statement of Cash Flows. Remember to include all...
Use the following information to prepa owing information to prepare a statement of cash flows for the current year using the indirect method, Exercise 12-12 Indirect: Preparing statement of cash flows P2 P3 MONTGOMERY INC. Comparative Balance Sheets Current Year Prior Year MONTGOMERY INC. Income Statement For Current Year Ended December 31 $45,575 (18,950) 26,625 At December 31 Assets Cash. Accounts receivable, net .. Inventory Total current assets Equipment Accum. depreciation-Equipment... Total assets.. Liabilities and Equity Accounts payable........ Salaries payable...
27. Prepare a statement of cash flows for the Crosby Corporation. Follow the general procedures indicated in Table 2–10 on page 38 .Statement of cash flows(L04)Current Assets LiabilitiesCash . . . . . . . . . . . . . . . . . . . . . . . . . $ 15,000 Accounts payable . . . . . . . . $ 20,000Accounts receivable . . . . . . . . . . . ....
Prepare the 2010 statement of cash flows for the Benz Company, using the information below. All the information is provided; assume no other data. Prepare the statement using the direct method format by entering cash flows and reconciling items into the form below. In column A, the name or description has been entered for you. In column B, enter the amount of each item using parentheses for outflows or negative amounts. In column C, enter your net cash flow amounts...
Prepare statement of cash flows using the indirect method. The income statement for 2017 and the balance sheets for 2017 and 2016 are presented for Hoover Industries, Inc. (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) A (Click the icon to view additional information.) Requirement Prepare a statement of cash flows for Hoover Industries, Inc., for the year ended December 31, 2017, using the indirect method. Prepare the statement one section at...
I need to prepare a statement of cash flows using the indirect method using this information Assets: Dec. 31st, 2020 Dec. 1st, 2019 Cash 680,000 360,000 Investments 110,000 290,000 Accounts receivable 115,000 130,000 Inventory 230,000 195,000 Prepaid advertising 40,000 25,000 Property & Equipment, net 435,000 500,000 Patents, net 180,000 50,000 Total Assets 1,790,000 1,550,000 Liabilities & Stockholders’ Equity Accounts Payable 265,000 284,000 Wages Payable 30,000 21,000 Notes Payable 650,000 350,000 Common Stock & APIC 600,000 600,000 Treasury Stock (250,000) (50,000)...
Statement of Cash Flows Your supervisor has provided you with the following statement of cash flows, prepared using the indirect method. Recall that the statement of cash flows consists of three sections: cash flows from operating activities, cash flows from investing activities, and cash flows from financing activities. Review the statement, and then proceed to the next panel. Championship Boxing, Inc. Statement of Cash Flows For the Year Ended December 31, 20Y8 Cash flows from (used for) operating activities: Net...
MONTGOMERY, INC Statement of Cash Flows (Indirect Method) For Year Ended December 31, 2018 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operations: Changes in current operating assets and liabilities Depreciation expense Decrease in accounts receivable Decrease in accounts payable Decrease in salaries payable Increase in inventory Net cash used in operating activities Cash flows from investing activities 0) Cash flows from financing activities 0 0 Cash balance at beginning of...
i need statement of cash flows please
Problem 2: (30 pts) Based on the following information, prepare the statement of cash flows using the indirect method. Smo Company Balance Sheet 2010 2009 Change Current assets: Cash Accounts receivable Inventory Interest Receivable Prepaid expenses Long-term assets Plant & equipment (net) Land $14,200 28,600 83,600 1,900 2,500 $5,300 26,900 87,200 700 1,900 $8,900 1,700 (3,600) 1,200 600 53,500 89.000 49,400 60,000 4,100 29,000 Total Assets 273,300 231,400 Current liabilities: Accounts payable Interest...
Based on the following information, prepare only the operating portion of a Statement of Cash Flows for Burgess Company. Burgess Company’s Income Statement for Year 2 (dollars in Millions) is as follows: Sales $3,600 Cost of Goods Sold 2,550 Gross Margin 1,050 Selling & Admin 875 Net Operating Income 175 Nonoperating Items Gain on Sale of Equipment 3 Income Before Taxes 178 Income Taxes 63 Net Income 115 It’s Balance Sheet for the end of Year 1 and...
Prepare a statement of cash flows, using the direct method of
presenting cash flows from operating activities. Be sure to
complete the heading of the statement. Refer to the Labels and
Amount Descriptions list provided for the exact wording of the
answer choices for text entries. Enter amounts that represent cash
outflows as negative numbers using a minus sign. No income
statement provided.
Updated: Sorry for forgetting the income statement.
Instructions The comparative balance sheet of Livers Inc. for December...