Dickinson Company reported net income or $155,000 of $190,000 on the date of the sale was sold for $75,000. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: current year. Depreciation recorded on buildings and equipment amounted to $65,000 for the year. In addition, a building with an original cost of $250,000 and accumulated depreciation End of Year Beginning of Year Cash $20,000 $15,000 Accounts Receivable 19,000 32,000 Inventories 50,000 65,000 Accounts Payable 12,000 18,000 Prepare the 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. Dickinson Company Cash Flows From The Operating Activities Section Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities Changes in current operating assets and liabilities:

Dickinson Company reported net income or $155,000 of $190,000 on the date of the sale was sold for $75,000. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: current year. Depreciation recorded on buildings and equipment amounted to $65,000 for the year. In addition, a building with an original cost of $250,000 and accumulated depreciation End of Year Beginning of Year Cash $20,000 $15,000 Accounts Receivable 19,000 32,000 Inventories 50,000 65,000 Accounts Payable 12,000 18,000 Prepare the 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. Dickinson Company Cash Flows From The Operating Activities Section Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities Changes in current operating assets and liabilities:

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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