Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows (indirect method) for ATM Software Developers. All amounts are in thousands (000s). ATM SOFTWARE DEVELOPERS 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 Cash at the beginning of the period Cash at the end of the period. Listed 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) Issuance of common stock Depreciation expense Increase in accounts receivable Decrease in accounts payable Issuance of long-term notes payable Purchase of equipment Decrease in inventory Decrease in prepaid rent Payment of dividends Net income Purchase of treasury stock $ 8,520 12,750 5,400 3,960 1,695 16,170 39,540 1,410 840 6,240 11,100 2,550 $2,205 7,755 $9,960 Required: Prepare the statement of cash flows for ATM Software Developers using the indirect method. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000,000 should be entered as 10,000).)
Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows (indirect method) for ATM Software Developers. All amounts are in thousands (000s). ATM SOFTWARE DEVELOPERS 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 Cash at the beginning of the period Cash at the end of the period. Listed 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) Issuance of common stock Depreciation expense Increase in accounts receivable Decrease in accounts payable Issuance of long-term notes payable Purchase of equipment Decrease in inventory Decrease in prepaid rent Payment of dividends Net income Purchase of treasury stock $ 8,520 12,750 5,400 3,960 1,695 16,170 39,540 1,410 840 6,240 11,100 2,550 $2,205 7,755 $9,960 Required: Prepare the statement of cash flows for ATM Software Developers using the indirect method. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000,000 should be entered as 10,000).)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows
(indirect method) for ATM Software Developers. All amounts are in thousands (000s).
ATM SOFTWARE DEVELOPERS
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
Cash at the beginning of the period
Cash at the end of the period
Listed 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)
Issuance of common stock
Depreciation expense
Increase in accounts receivable
Decrease in accounts payable
Issuance of long-term notes payable
Purchase of equipment
Decrease in inventory
Decrease in prepaid rent
Payment of dividends
Net income
Purchase of treasury stock
Prev
$
1 of 3 ⠀
8,520
12,750
5,400
3,960
1,695
16,170
39,540
1,410
840
6,240
11,100
2,550
Required:
Prepare the statement of cash flows for ATM Software Developers using the indirect method. (Amounts to be deducted, cash
outflows, and any decrease in cash should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000,000
should be entered as 10,000).)
$2,205
7,755
$9,960
Next >
Transcribed Image Text:Cash Flows from Operating Activities
Adjustments to reconcile net income to net cash flows from operating activities:
ATM SOFTWARE DEVELOPERS
Statement of Cash Flows
For the Year Ended December 31, 2024
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
Cash at the beginning of the period
Cash at the end of the period
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