Answer:
LOCK & KEY INC. | ||
Statement of Cash Flows | ||
For Year Ended December 31, 2017 | ||
(000s) | ||
Cash flows from Operating activities: | ||
Loss | ($600) | |
Add: Deprecition expense | $ 240 | |
Less: Increase in accounts receivable | $ (660) | |
Add: Decrease in Inventory | $ 240 | |
Add: Increase in Accounts payable | $ 360 | |
Less: Decrease in accrued liabilities | $ (120) | |
$ 60 | ||
Cash Flows from Operating Activities: | $ (540) | |
Cash Flows from Investing Activities: | ||
Proceeds from sale of equipment | $ 60 | |
Cash Flows from Investing activities | $ 60 | |
Cash Flows from Financing Activities: | ||
Repayment of Bonds | $ (680) | |
Issue of common stock | $ 1,464 | |
Dividend paid | $ (34) | |
Cash Flows from Financing Activities | $ 750 | |
Net cash flows from all the activities | $ 270 | |
Add: Opening cash | $ 1,190 | |
Closing cash balance | $ 1,460 |
Lock & Key Inc. began operations on January 1, 2016. Its post-closing trial balance at December 3...
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