Additional information is as follows: a. Old equipment was sold for cash during 2020. It had an original cost of $48 and an accumulated depreciation of $25. b. A new building was acquired during the year in exchange for a long-term note for $50, payable in five years. In addition, new equipment was purchased for cash. Required: 1. Prepare the operating activities section of the statement of cash flows for Laporte Inc. for the year ended December 31, 2020 by using the indirect method. (Negative answers should be indicated by a minus sign. Enter your answers in millions.) LAPORTE INC. Statement of Cash Flows (Partial) For the Year Ended December 31, 2020 Cash flows from operating activities: Net earnings Add (deduct) items not affecting cash: Decrease in accounts payable Decrease in income tax payable Decrease in merchandise inventory Depreciation expense Gain on sale of investments Increase in accounts receivable Loss on sale of equipment Net cash used for operating activities $ 0

Additional information is as follows: a. Old equipment was sold for cash during 2020. It had an original cost of $48 and an accumulated depreciation of $25. b. A new building was acquired during the year in exchange for a long-term note for $50, payable in five years. In addition, new equipment was purchased for cash. Required: 1. Prepare the operating activities section of the statement of cash flows for Laporte Inc. for the year ended December 31, 2020 by using the indirect method. (Negative answers should be indicated by a minus sign. Enter your answers in millions.) LAPORTE INC. Statement of Cash Flows (Partial) For the Year Ended December 31, 2020 Cash flows from operating activities: Net earnings Add (deduct) items not affecting cash: Decrease in accounts payable Decrease in income tax payable Decrease in merchandise inventory Depreciation expense Gain on sale of investments Increase in accounts receivable Loss on sale of equipment Net cash used for operating activities $ 0

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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The net income for Swifty Corporation for 2022 was $260,100. For 2022, depreciation on plant assets was $67,800, and the company incurred a loss on disposal of plant assets of $27,100. Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis e.g. (15,000)) Ⓒ
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If Sheffield Corp. realizes a loss of $9500 on a cash sale of office equipment having a book value of $95400, the total amount reported in the cash flows from investing activities section of the statement of cash flows is $95400. $104900. $85900. $9500.
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Based on the attached image. what is the correct amount of total separately disclosable items added to (deducted from) profit before tax as part of the adjustments in the cash generated from operations section according to indirect method in the statement of cash flows of Moletji Limited for the year ended 31 December 2020?
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How would I record the statement of cash flow?