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Required: Prepare Mueller Company's statement of cash flows for 2016. Use a minus sign for any negative amounts.

Required: Prepare Mueller Company's statement of cash flows for 2016. Use a minus sign for any negative amounts.

FINANCIAL ACCOUNTING
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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How do I complete the statement of cash flows
StatemeITOr Casn FIOWS For Year Ended December 31, 2016 Operating Activities: Adjustments for differences between income flows and cash flows from operating activities: Net cash provided by operating activities Investing Activities: Financing Activities: Previous Check My Work 56°F Clear
Transcribed Image Text:StatemeITOr Casn FIOWS For Year Ended December 31, 2016 Operating Activities: Adjustments for differences between income flows and cash flows from operating activities: Net cash provided by operating activities Investing Activities: Financing Activities: Previous Check My Work 56°F Clear
iment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false еВook Statement of Cash Flows The following are several items involving the cash flow activities of the Mueller Company for 2016: a. Net income, $68,000 b. Increase in accounts receivable, $4,400 c. Receipt from sale of common stock, $12,300 d. Depreciation expense, $11,300 e. Dividends paid, $24,500 f. Payment for purchase of building, $65,000 g. Bond discount amortization, $2,700 h. Receipt from sale of long-term investments at cost, $10,600 i. Payment for purchase of equipment, $8,000 j. Receipt from sale of preferred stock, $20,000 k. Increase in income taxes payable, $3,500 1. Payment for purchase of land, $9,700 m. Decrease in accounts payable, $2,900 n. Increase in inventories, $10,300 o. Beginning cash balance, $18,000 Required: Prepare Mueller Company's statement of cash flows for 2016. Use a minus sign for any negative amounts. MUELLER COMPANY Statement of Cash Flows For Year Ended December 31, 2016 Operating Activities: Adjustments for differences between income flows and cash flows from operating activities:
Transcribed Image Text:iment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false еВook Statement of Cash Flows The following are several items involving the cash flow activities of the Mueller Company for 2016: a. Net income, $68,000 b. Increase in accounts receivable, $4,400 c. Receipt from sale of common stock, $12,300 d. Depreciation expense, $11,300 e. Dividends paid, $24,500 f. Payment for purchase of building, $65,000 g. Bond discount amortization, $2,700 h. Receipt from sale of long-term investments at cost, $10,600 i. Payment for purchase of equipment, $8,000 j. Receipt from sale of preferred stock, $20,000 k. Increase in income taxes payable, $3,500 1. Payment for purchase of land, $9,700 m. Decrease in accounts payable, $2,900 n. Increase in inventories, $10,300 o. Beginning cash balance, $18,000 Required: Prepare Mueller Company's statement of cash flows for 2016. Use a minus sign for any negative amounts. MUELLER COMPANY Statement of Cash Flows For Year Ended December 31, 2016 Operating Activities: Adjustments for differences between income flows and cash flows from operating activities:
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