CEO CONSULTANTS Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities (43,000) 97,000 $ 54,000 Net increase (decrease) in cash Cash at the beginning of the period Cash at the end of the period
CEO CONSULTANTS Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities (43,000) 97,000 $ 54,000 Net increase (decrease) in cash Cash at the beginning of the period Cash at the end of the period
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![22
01:58:54
CEO CONSULTANTS
Statement of Cash Flows
For the Year Ended December 31, 20211
Cash Flows from Operating Activities
Adjustments to reconcile net income to net cash flows from operating activities:
Net cash flows from operating activities
Cash Flows from Investing Activities
Net cash flows from investing activities
Cash Flows from Financing Activities
Net cash flows from financing activities
Net increase (decrease) in cash
Cash at the beginning of the period
Cash at the end of the period
$
(43,000)
97,000
54,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F09f9054d-685d-4cbb-b602-9380427368e0%2Fd63e879f-5f5e-4607-81f0-1873b10fb023%2F0dtspy_processed.jpeg&w=3840&q=75)
Transcribed Image Text:22
01:58:54
CEO CONSULTANTS
Statement of Cash Flows
For the Year Ended December 31, 20211
Cash Flows from Operating Activities
Adjustments to reconcile net income to net cash flows from operating activities:
Net cash flows from operating activities
Cash Flows from Investing Activities
Net cash flows from investing activities
Cash Flows from Financing Activities
Net cash flows from financing activities
Net increase (decrease) in cash
Cash at the beginning of the period
Cash at the end of the period
$
(43,000)
97,000
54,000
![A company has gathered data to be used in preparing the statement of cash flows (indirect method).
Listed below, in no particular order, are items to be included in that statement.
Purchase of equipment
Increase in inventory
Increase in prepaid rent
Payment of dividends
$ 228,000
34,000
7,000
34,000
Depreciation expense
11,000
52,000
Increase in accounts receivable
Increase in accounts payable.
Loss on sale of land
16,000
13,500
Net income
67,000
Repayment of notes payable
42,000
Cash received from the sale of land
5,500
241,000
Issuance of common stock
Prepare the company's statement of cash flows using the indirect method. (Amounts to be deducted and negative values should be
indicated by minus sign.)
CEO CONSULTANTS
Statement of Cash Flows
For the Year Ended December 31, 2021
Cash Flows from Operating Activities
Adjustments to reconcile net income to net cash flows from operating activities](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F09f9054d-685d-4cbb-b602-9380427368e0%2Fd63e879f-5f5e-4607-81f0-1873b10fb023%2F9sz4o2f_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A company has gathered data to be used in preparing the statement of cash flows (indirect method).
Listed below, in no particular order, are items to be included in that statement.
Purchase of equipment
Increase in inventory
Increase in prepaid rent
Payment of dividends
$ 228,000
34,000
7,000
34,000
Depreciation expense
11,000
52,000
Increase in accounts receivable
Increase in accounts payable.
Loss on sale of land
16,000
13,500
Net income
67,000
Repayment of notes payable
42,000
Cash received from the sale of land
5,500
241,000
Issuance of common stock
Prepare the company's statement of cash flows using the indirect method. (Amounts to be deducted and negative values should be
indicated by minus sign.)
CEO CONSULTANTS
Statement of Cash Flows
For the Year Ended December 31, 2021
Cash Flows from Operating Activities
Adjustments to reconcile net income to net cash flows from operating activities
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