Homework Help is Here – Start Your Trial Now!
Business
Accounting
Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required.   *There is actually 23 rows in the Statement of Cash Flows, I just couldn't fit them all in the screenshot. Row 22 & 23 are Cash balance, January 1, 20Y3     Cash balance, December 31, 20Y3

Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required.   *There is actually 23 rows in the Statement of Cash Flows, I just couldn't fit them all in the screenshot. Row 22 & 23 are Cash balance, January 1, 20Y3     Cash balance, December 31, 20Y3

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required.
 
*There is actually 23 rows in the Statement of Cash Flows, I just couldn't fit them all in the screenshot. Row 22 & 23 are
Cash balance, January 1, 20Y3
 
 
Cash balance, December 31, 20Y3
 
 
Statement of Cash Flows (X) 1 Cash flows from (used for) operating activities: 2 3 Adjustments to reconcile net income to net cash flows from operating activities: 4 5 Changes in current operating assets and liabilities: 7 8 9 10 11 12 Cash flows from (used for) investing activities: 13 14 15 16 17 Cash flows from (used for) financing activities: 18 19
Transcribed Image Text:Statement of Cash Flows (X) 1 Cash flows from (used for) operating activities: 2 3 Adjustments to reconcile net income to net cash flows from operating activities: 4 5 Changes in current operating assets and liabilities: 7 8 9 10 11 12 Cash flows from (used for) investing activities: 13 14 15 16 17 Cash flows from (used for) financing activities: 18 19
1 Dec. 31, 20Y3 Dec. 31, 20Y2 2 Assets 3 Cash $625,080.00 $586,430.00 4 Accounts receivable (net) 228,260.00 209,470.00 5 Inventories 641,070.00 616,400.00 6 Investments 0.00 240,170.00 7 Land 327,640.00 0.00 8 Equipment 705,000.00 552,830.00 9 Accumulated depreciation-equipment (165,670.00) (148,610.00) Total assets $2,361,380.00 $2,056,690.00 10 11 Liabilities and Stockholders' Equity 12 Accounts payable $425,090.00 $405,900.00 13 Accrued expenses payable 43,140.00 52,460.00 14 Dividends payable 23,780.00 19,970.00 15 Common stock, $4 par 147,000.00 96,000.00 16 Excess of paid-in capital over par 417,200.00 279,600.00 17 Retained earnings 1,305,170.00 1,202,760.00 Total liabilities and stockholders' equity $2,361,380.00 $2,056,690.00 18
Transcribed Image Text:1 Dec. 31, 20Y3 Dec. 31, 20Y2 2 Assets 3 Cash $625,080.00 $586,430.00 4 Accounts receivable (net) 228,260.00 209,470.00 5 Inventories 641,070.00 616,400.00 6 Investments 0.00 240,170.00 7 Land 327,640.00 0.00 8 Equipment 705,000.00 552,830.00 9 Accumulated depreciation-equipment (165,670.00) (148,610.00) Total assets $2,361,380.00 $2,056,690.00 10 11 Liabilities and Stockholders' Equity 12 Accounts payable $425,090.00 $405,900.00 13 Accrued expenses payable 43,140.00 52,460.00 14 Dividends payable 23,780.00 19,970.00 15 Common stock, $4 par 147,000.00 96,000.00 16 Excess of paid-in capital over par 417,200.00 279,600.00 17 Retained earnings 1,305,170.00 1,202,760.00 Total liabilities and stockholders' equity $2,361,380.00 $2,056,690.00 18
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cash Flow Statement Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS