Cash Received from: Sales to customers Interest on investment Collection of note receivable Sale of investments Issuance of notes payable Sale of long-term asset Issuance of equity Cash Paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Operating expenses Dividends to stockholders Purchase of supplies Income and property taxes Purchase of property Repurchase of stock $475,000 6,000 50,000 30,000 202,000 40,000 228,000 $33,000 5,000 18,000 140,000 25,000 20,000 3,000 11,000 400,000 8,000 The balance of cash at the beginning of 2024 was $220.000. Required: Prepare a statement of cash flows for the year for Shepa Incorporated. (Hint: For operating, investing, and financing activities, list the inflows and subtract the outflows to calculate net cash flows for each type of activity.) Note: Amounts to be deducted should be indicated with a minus sign.

Cash Received from: Sales to customers Interest on investment Collection of note receivable Sale of investments Issuance of notes payable Sale of long-term asset Issuance of equity Cash Paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Operating expenses Dividends to stockholders Purchase of supplies Income and property taxes Purchase of property Repurchase of stock $475,000 6,000 50,000 30,000 202,000 40,000 228,000 $33,000 5,000 18,000 140,000 25,000 20,000 3,000 11,000 400,000 8,000 The balance of cash at the beginning of 2024 was $220.000. Required: Prepare a statement of cash flows for the year for Shepa Incorporated. (Hint: For operating, investing, and financing activities, list the inflows and subtract the outflows to calculate net cash flows for each type of activity.) Note: Amounts to be deducted should be indicated with a minus sign.

Name: Cash Received from:Sales to customersInterest on investmentCollection
Uploaded: 2024-03-05T11:47:04.000Z
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Description: Cash Received from:Sales to customersInterest on investmentCollection of note receivableSale of investmentsIssuance of notes payableSale of long-term assetIssuance of equityCash Paid for:Purchase of inventoryInterest on notes payablePurchase of equi

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 27BE

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