3-11. (Working with a statement of cash flows) Given the following information, prep. a statement of cash flows. $20 Beginning cash $25 Dividends 27 Increase in common stock 65 thcrease in accounts receivable Increase in inventories 215 Operating income 40 Increase in accounts payables 50 interest expense 20 Depreciation expense 48 Increase in bank debt 15 Increase in accrued expenses 55 Increase in gross fixed assets 45 Income taxes

3-11. (Working with a statement of cash flows) Given the following information, prep. a statement of cash flows. $20 Beginning cash $25 Dividends 27 Increase in common stock 65 thcrease in accounts receivable Increase in inventories 215 Operating income 40 Increase in accounts payables 50 interest expense 20 Depreciation expense 48 Increase in bank debt 15 Increase in accrued expenses 55 Increase in gross fixed assets 45 Income taxes

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Using the Exhibit below, assume that the balance of Accounts Payable was $60,000 at the beginning of the current year. Furthermore, assume that the balance of Accounts Payable is $65,000 at the end of the current year. When preparing the Statement of Cash Flow using the indirect method for the current year, which of the following statements would describe the proper presentation of accounts payable on the Cash flow from operating activities section? EXHIBIT Increase (Decrease) Net Income (loss) $XXX Adjustments to reconcile net income to net cash flow from operating activities: Depreciation of fixed assets XXX Losses on disposal of assets XXX Gains on disposal of…
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