Question

e the following balance sheets and Income statement to answer QS 12-11 through QS 12-16 aS 12-11 cash from operations P2 ,2015 elec S H80 24000 tee ann 227000 175,000 Cah.. 1,000 309,000 119,000 oals085,000 15,000 $ 21,000 p,005,000 23,40028,600 ไฟ1bMa .. .. se400 07,400 CRUZ, INC Llabilities and Equity Wigos peyabie Noces payable (Dang-cam)21800 Year Enled 14000 74000 Grosm profte -63 038e Deprecation expense... $37400 09.100 Equity Common stock $5 par value Rataned eanip Other expene Income belore Income oes epense .. Net Incomew.. เวม00 47300 .เ(99 30.000 equired he the indirect method to prepare the cash peovided or used from operating actlvities section only of the atement of cash flows for this company. QS 12-12 Refer to the data in QS 12-11 Computing cesh from Parniture costing $$5,000 is sold at its book value in 2015. Acquisitions of furninure total $45,000 asset sales on which no depreciation is necessary becesse it is acquired at year-end. What is the eash inflow ra to the sale of furniture? F3 aS 12-13 Refer to the data in QS 12-11. Computing financing cash outflows 1. Assume that all common stock is issued for cash. What amount of cash dividends is paid duning 201 2. Assume that no additional notes payable are issued in 2015. What cash amount is paid to reduce te P3 potes payable balance in 20157

Answer 1

Cash Flow from Operating activities

SNO	Particulars	Amount(in $)
A	Net Income	30,000
B	Adjustments to reconcile net income to operating cash flow
	Add:depreciation	37,600
C	Changes in working Capital
	Add:Decrease in account receivable	10,000
	Add:Decrease in Inventory	10,000
	Less:Increase in Prepaid expenses(5,400-4,200)	(1,200)
	Less:Decrease in accounts payable(15000-21000)	(6,000)
	Add:Increase in wages payable	4,000
	Less:decrease in income tax payable(1400-2600)	(1200)
	Net Cash provided by operating activities	83,200

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