Question

6. River, Inc.'s accountants have assembled the following data for the year ended July 31, 2018: Click the icon to view the data.) Prepare River's statement of cash flows using the indirect method for the year ended July 31, 2018. Assume beginning and ending Cash are $11.000 and $78.000 Statement of Cash Flows Year Ended July 31, 2018 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Net Cash Provided by (Used for) Operating Activities

Answer 1

Answer
River inc
Statement of cash Flows - Indirect Method
year Ended July 31,2018
	Amount	Amount
cash Flow from operating Activities:
Net Income		$     38,000
Adjustments :-
Depreciation Expenses	$     13,000
Decrease in current assets other than cash	$     11,000
Increase in current liabilities	$       3,000
cash Flow from operating Activities:		$     27,000
Net cash provided by(used by ) operating activities		$     65,000
Cash flow from investing activities :
Equipment	$     15,000
Cash purchase of land	-$     29,000
Net cash used in investing activities		-$     14,000
Cash flows from investing activities :
Cash payment of dividend	-$       6,000
Issuance of common stock	$     22,000
Net cash provided by financing activities		$     16,000
Net increase in cash		$     67,000
Cash balance, July 31, 2017		$     11,000
Cash balance, July 31, 2018		$     78,000

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