Net income Depreciation expense Beginning accounts receivable Ending accounts receivable Beginning inventory Ending inventory Beginning prepaid insurance Ending prepaid insurance form the calculations below (using the indirect method). $400,000 91,000 429,000 433,000 514,000 578,000 40,700 46,400 Beginning accounts payable Ending accounts payable Purchase of long-term assets Issuance of long-term debt Issuance of stock for cash Issuance of stock for long-term assets Purchase of treasury stock Sale of long-term investment at cost $122,000 145,000 754,000 264,000 167,000 105,000 64,500 54,500

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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Use the following information to perform the calculations below (using the indirect method).
Net income.
Depreciation expense
Beginning accounts receivable
Ending accounts receivable
Beginning inventory
Ending inventory
Beginning prepaid insurance
Ending prepaid insurance
$400,000
91,000
429,000
433,000
514,000
578,000
40,700
46,400
Beginning accounts payable
Ending accounts payable
Purchase of long-term assets
Issuance of long-term debt
Issuance of stock for cash
Issuance of stock for long-term assets
Purchase of treasury stock
Sale of long-term investment at cost
$122,000
145,000
754,000
264,000
167,000
105,000
64,500
54,500
Transcribed Image Text:Use the following information to perform the calculations below (using the indirect method). Net income. Depreciation expense Beginning accounts receivable Ending accounts receivable Beginning inventory Ending inventory Beginning prepaid insurance Ending prepaid insurance $400,000 91,000 429,000 433,000 514,000 578,000 40,700 46,400 Beginning accounts payable Ending accounts payable Purchase of long-term assets Issuance of long-term debt Issuance of stock for cash Issuance of stock for long-term assets Purchase of treasury stock Sale of long-term investment at cost $122,000 145,000 754,000 264,000 167,000 105,000 64,500 54,500
(c)
Calculate the amount of cash flows from financing activities. (Show amount that decrease cash flow with either a-sign e.g.-15,000 or
in parenthesis e.g. (15,000).)
Cash flows from financing activities
Transcribed Image Text:(c) Calculate the amount of cash flows from financing activities. (Show amount that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Cash flows from financing activities
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