Apex Company Statement of Cash Flows-Indirect Method Operating activities Net income ... Adjustments to convert net income to cash basis: $ 40,000 Depreciation .. Increase in accounts receivable Increase in inventory.... Decrease in prepald expenses Increase in accounts payable $ 22,000 (60,000) (25,000) 9,000 55,000 (12,000) 5,000 ..... Decrease in accrued liabilities Increase in income taxes payable (6,000) Net cash provided by (used in) operating activities 34,000 Investing activities Proceeds from the sale of equipment Loan to Thomas Company ... Additions to plant and equipment .... Net cash provided by (used in) investing activities. 14,000 (40,000) (110,000) (136,000) Financing activities Increase in bonds payabie 90,000 40,000 .... Increase in common stock Cash dividends .... Net cash provided by (used in) financing activities (30,000) 100,000 ........ Net decrease in cash and cash equivalents Beginning cash and cash equivalents (2,000) 27,000 $ 25,000 Ending cash and cash equivalents

Apex Company Statement of Cash Flows-Indirect Method Operating activities Net income ... Adjustments to convert net income to cash basis: $ 40,000 Depreciation .. Increase in accounts receivable Increase in inventory.... Decrease in prepald expenses Increase in accounts payable $ 22,000 (60,000) (25,000) 9,000 55,000 (12,000) 5,000 ..... Decrease in accrued liabilities Increase in income taxes payable (6,000) Net cash provided by (used in) operating activities 34,000 Investing activities Proceeds from the sale of equipment Loan to Thomas Company ... Additions to plant and equipment .... Net cash provided by (used in) investing activities. 14,000 (40,000) (110,000) (136,000) Financing activities Increase in bonds payabie 90,000 40,000 .... Increase in common stock Cash dividends .... Net cash provided by (used in) financing activities (30,000) 100,000 ........ Net decrease in cash and cash equivalents Beginning cash and cash equivalents (2,000) 27,000 $ 25,000 Ending cash and cash equivalents

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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