CURRENT PERIOD CASH FLOWS FROM OPERATING ACTIVITIES Net Profit (Loss) 9734 Adjustments to Net for Non-Cash Expenses Depreciation and Amort 15766 (Gain) Loss on Fixed Assets 0 (Increase) Decrease in Assets Accounts Receivable - Trade Other Accounts Receivable -27695 Inventory Prepaid Expenses 16962 Other Assets Increase (Decrease) in Liabilities Accounts Payable - Trade 23707 Other Liabilities 2582 Net Cash From Operations 41056 CASH FLOWS FROM INVESTING ACTIVITIES Sale (Acquisition) of Fixed As 0 Net Cash From Investing 0 CASH FLOWS FROM FINANCING ACTIVITIES Notes Payable 0 Notes Payable 0 Notes Payable 0 Net Cash From 0 Total Cash Increase (Decrease) 41056 Cash - Beginning of Period 2168786 Cash - End of Period 2209842 Cash Book Balance - End of Perio 2211141 Please Find the mistakes in this cashflow statement.

CURRENT PERIOD CASH FLOWS FROM OPERATING ACTIVITIES Net Profit (Loss) 9734 Adjustments to Net for Non-Cash Expenses Depreciation and Amort 15766 (Gain) Loss on Fixed Assets 0 (Increase) Decrease in Assets Accounts Receivable - Trade Other Accounts Receivable -27695 Inventory Prepaid Expenses 16962 Other Assets Increase (Decrease) in Liabilities Accounts Payable - Trade 23707 Other Liabilities 2582 Net Cash From Operations 41056 CASH FLOWS FROM INVESTING ACTIVITIES Sale (Acquisition) of Fixed As 0 Net Cash From Investing 0 CASH FLOWS FROM FINANCING ACTIVITIES Notes Payable 0 Notes Payable 0 Notes Payable 0 Net Cash From 0 Total Cash Increase (Decrease) 41056 Cash - Beginning of Period 2168786 Cash - End of Period 2209842 Cash Book Balance - End of Perio 2211141 Please Find the mistakes in this cashflow statement.

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 following information is available for Wildhorse Co. for the year ended December 31, 2022. Beginning cash balance $ 28,800 Accounts payable increase 6,840 Depreciation expense 49,200 Accounts receivable decrease 5,760 Inventory decrease 3,720 Net income 68,640 Cash received for sale of land at book value 124,800 Cash dividends paid 45,600 Income taxes payable decrease 4,680 Cash used to purchase land 97,200 Cash used to redeem bonds 79,200 Cash received from issuing stock 192,000 Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Wildhorse Co. Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income 68640 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense 49200 %24
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P12-5 LO12-2, 12-4, 12-6 Chapter Supplement B) Preparing a Statement of Cash Flows with Gain on Sale of Equipment (Indirect Method) (AP12-5) XS Supply Company is developing its annual financial statements at December 31, current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized below: Balance sheet at December 31 Cash Accounts receivable Merchandise inventory Property and equipment Less: Accumulated depreciation Accounts payable Wages payable Note payable, long-term Common stock and additional paid-in capital Retained earnings Income statement for current year Sales Gain on sale of equipment Cost of goods sold Other expenses Net income Additional Data: Current Year 2. Evaluate the statement of cash flows. $ 34,000 35,000 41,000 121,000 (30,000) $201,000 $ 36,000 1,200 38,000 88,600 37,200 $201,000 $120,000 1,000 (70,000) (38,800) $ 12,200 Prior Year $ 29,000 28,000 38,000 100,000…
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Cash Flows from Operating Activities—Indirect Method Staley Inc. reported the following data: Net income $298,400 Depreciation expense 59,600 Loss on disposal of equipment 24,800 Increase in accounts receivable 13,200 Increase in accounts payable 11,800 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.
Subject: acounting