Following is selected financial information of Kia Company for the current year ended December 31.$ (1,500)850Cash used by investing activitiesNet increase in cashCash used by financing activitiesCash from operating activitiesCash, December 31, prior year(2,300)4,6504,200Required:Prepare the statement of cash flows for Kia Company for the current year ended December 31. (Cash outflows should be indiwith a minus sign.)KIA COMPANYStatement of Cash FlowsFor Current Year Ended December 312$McGraw< Prey6 of 10Next >MacBook* FSFBF9F1023%24&49.QWETYUGH.CVmand* coB

Cash, December 31, current year = Net increase in cash + Cash, December 31, prior year

Answered: Following is selected fiņancial…

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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Prepare the statement of cash glows using the indirect method. Please show all work Please don't provide answer in image format thank you
6. Here are some financial statement data for the year for Evie Company. Compute Evie's ENDING cash balance for the year. Cash outflow from INVESTING activities Cash inflow from OPERATING activities Cash inflow from FINANCING activities Net income BEGINNING Cash balance 1,200 1,000 300 900 400
Statement of Cash Flows The comparative balance sheet of Orange Angel Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, Dec. 31, 20Y8 20Y7 Cash Accounts receivable (net) Merchandise inventory Assets Prepaid expenses Equipment Accumulated depreciation-equipment Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Mortgage note payable Common stock, $1 par Excess of paid-in capital over par Retained earnings Total liabilities and stockholders' equity $53,650 $66,100 82,440 89,100 117,780 110,440 4,800 3,350 239,920 197,870 (62,380) (48,530) $436,210 $418,330 $91,600 0 14,000 203,000 127,610 $436,210 $87,430 125,500 9,000 118,000 78,400 $418,330 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: a. Net income, $125,980. b. Depreciation reported on the income statement, $30,270. c. Equipment was purchased at a cost of $58,470, and fully depreciated…
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Baird Incorporated presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from the company's Year 2 and Year 1 year-end balance sheets. Account Title Accounts receivable Year 2 $15,000 Accounts payable $ 8,400 Year 1. $19,500 $10, 150 The Year 2 income statement showed net income of $28,700. Required a. Prepare the operating activities section of the statement of cash flows. (Amounts to be deducted should be indicated with minus sign.) Cash flows from operating activities Net cash flow from operating activities $ 0
Free Cash Flow Kat Co. reports the following financial data for the current year: Cash flow from operating activities Cash flow from investing activities Cash flow from financing activities Cash disbursed for capital expenditures Compute Kat's free cash flow. Free cash flow S 17175 x Check $21,500 (10,555) 4,250 (4,325)
The item listed below belongs on the Statement of Cash Flows. Using formulas and cell links, complete the Statement of Cash Flows. Items for the Statement of Cash Flowws 01/01/21 12/31/21 Increase (Decrease) Davidson Company Statment of Cash Flow For the Year Ended Dec, 31,2021 Cash 42,000 60,000 Accounts Recevable 254,000 314,200 Cash Flows from operation activities Inventory 78,500 117,100 Accounts Payable 164,200 204,800 Net Cash Provided used by operating Activities Short-term notes Payable 65,000 27,200 Cash Flows from investing Activities Net income for 2021 230,200 Purchase of Equipment 84,000 Net Cash Provided used by investing Activities Depreciation Expense 26,600 Payments of Cash Dividends 91,600 Cash Flows from Financing…
P4-4A. Preparing the Financial Statements Listed below are items reported on the financial statements of the Huntington Company as of June 30: Prepare a classified balance sheet as of June 30 and statement of cash fows for the current year.
Use the following excerpts from Wickham Company's financial information to prepare a statement of cash flows (indirect method) for the year 2018. Dec. 31, 2018 Dec. 31, 2017 Cash $225,000 38,350 59,500 150,000 160,000 (49,000) 583,850 $200,000 35,350 58,200 50,000 160,000 (37,000) 466,550 Account Receivable Merchandise Inventory Land Plant Assets Accumulated Depreciation Total Assets Accounts Payable Accrued Liabilities Common Stock Retained Earnings Total Liabilities and Equity 29,100 15,500 45,000 494,250 583,850 27,300 12,000 20,000 407,250 466,550 Additional information: Net income for 2018 Depreciation expense for 2018 Land purchased, for cash Stock issued in exchange for cash, at par value Dividends declared and paid 98,000 12,000 100,000 25,000 11,000
Dive In Company was started several years ago by two diving instructors. The company's comparative balance sheets and income statement, as well as additional information, are presented below. Balance Sheet at December 31 Cash Accounts Receivable. Prepaid Rent Total Assets Salaries and Wages Payable Common Stock Retained Earnings Total Liabilities and Stockholders' Equity Income Statement Service Revenue Salaries and Wages Expense Rent and Office Expenses Net In Current Year $ 3,340 1,100 110 $ 4,550 $ 400 1,300 2,850 $ 4,550 $ 35,050 31,000 3,700 $ 350 Previous Year Additional Data: a. Rent is paid in advance each month, and Office Expenses are paid in cash as incurred. b. An owner contributed capital by paying $250 cash in exchange for the company's stock. $ 4,145 550 55 $4,750 $ 1,200 1,050 2,500 $4,750

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