Natalie King has completed the basic format to be used in preparing the statement of cash flows (indirect method) for CPU Hardware Designers. All amounts are in thousands (000s). CPU HARDWARE DESIGNERS Statement of Cash Flows For the Year Ended December 31, 2024 Cash Flows from Operating Activities Net income 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 $(34,600) Cash at the beginning of the period 87,000 Cash at the end of the period $52,400 Below, in random order, are line items to be included in the statement of cash flows Cash received from the sale of land (no gain or loss) $3,700 Issuance of common stock 285,000 Depreciation expense 27,000 Increase in accounts receivable 67,000 Increase in accounts payable 11,000 Loss on sale of land 7,700 Purchase of equipment 227,000 Increase in inventory 37,000 Increase in prepaid rent 11,000 Payment of dividends 47,000 Net income 77,000 Repayment of notes payable 57,000 Required: Prepare the statement of cash flows for CPU Hardware Designers using the indirect method. (List cash outflows and any decrease in cash as negative amounts. Enter your answers in thousands (i.e., 10,000,000 should be entered as "10,000).)
Natalie King has completed the basic format to be used in preparing the statement of cash flows (indirect method) for CPU Hardware Designers. All amounts are in thousands (000s). CPU HARDWARE DESIGNERS Statement of Cash Flows For the Year Ended December 31, 2024 Cash Flows from Operating Activities Net income 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 $(34,600) Cash at the beginning of the period 87,000 Cash at the end of the period $52,400 Below, in random order, are line items to be included in the statement of cash flows Cash received from the sale of land (no gain or loss) $3,700 Issuance of common stock 285,000 Depreciation expense 27,000 Increase in accounts receivable 67,000 Increase in accounts payable 11,000 Loss on sale of land 7,700 Purchase of equipment 227,000 Increase in inventory 37,000 Increase in prepaid rent 11,000 Payment of dividends 47,000 Net income 77,000 Repayment of notes payable 57,000 Required: Prepare the statement of cash flows for CPU Hardware Designers using the indirect method. (List cash outflows and any decrease in cash as negative amounts. Enter your answers in thousands (i.e., 10,000,000 should be entered as "10,000).)
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 40E
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Natalie King has completed the basic format to be used in preparing the statement of
CPU HARDWARE DESIGNERS | |
Statement of Cash Flows | |
For the Year Ended December 31, 2024 | |
Cash Flows from Operating Activities | |
---|---|
Net income | |
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 | $(34,600) |
Cash at the beginning of the period | 87,000 |
Cash at the end of the period | $52,400 |
Below, in random order, are line items to be included in the statement of cash flows
Cash received from the sale of land (no gain or loss) | $3,700 |
---|---|
Issuance of common stock | 285,000 |
27,000 | |
Increase in accounts receivable | 67,000 |
Increase in accounts payable | 11,000 |
Loss on sale of land | 7,700 |
Purchase of equipment | 227,000 |
Increase in inventory | 37,000 |
Increase in prepaid rent | 11,000 |
Payment of dividends | 47,000 |
Net income | 77,000 |
Repayment of notes payable | 57,000 |
Required:
Prepare the statement of cash flows for CPU Hardware Designers using the indirect method. (List
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