Please do not give solution in image format thanku Statement of Cash Flows (Indirect Method) Use the following information regarding the Newcastle Corporation to prepare a statement of cashflows using the indirect method:Accounts payable decreaseAccounts receivable increaseWages payable decreaseAmortization expenseCash balance, January 1Cash balance, December 31Cash paid as dividendsCash paid to purchase landCash paid to retire bonds payable at parCash received from issuance of common stockCash received from sale of equipmentDepreciation expenseGain on sale of equipmentInventory increaseNet incomePrepaid expenses increase$3,0007,0009,00016,00031,0009,0006,000100,00069,00045,00011,00039,00014,00011,00094,0008,000 Remember to use negative signs with answers when appropriate.NEWCASTLE CORPORATIONStatement of Cash FlowsFor Year Ended December 31Cash Flow from Operating ActivitiesNet IncomeAdd (deduct) items to convert net income to cash basisDepreciationAmortizationGain on Sale of EquipmentAccounts Receivable IncreaseInventory IncreasePrepaid Expenses IncreaseAccounts Payable DecreaseWages Payable DecreaseCash Flow Provided by Operating ActivitiesCash Flow from Investing ActivitiesSale of EquipmentPurchase of LandCash Used by Investing ActivitiesCash Flow from Financing ActivitiesIssuance of Common StockRetirement of Bonds PayablePayment of DividendsCash Used by Financing ActivitiesNet Decrease in CashCash at Beginning of Year$Cash at End of Year00000001001000O.......

The cash flow statement under the indirect method is prepared using the details from the statement…

Statement of Cash Flows (Indirect Method) Use the following information regarding the Newcastle Corporation to prepare a statement of cash flows using the indirect method: Accounts payable decrease Accounts receivable increase Wages payable decrease Amortization expense Cash balance, January 1 Cash balance, December 31 Cash paid as dividends Cash paid to purchase land Cash paid to retire bonds payable at par Cash received from issuance of common stock Cash received from sale of equipment Depreciation expense Gain on sale of equipment Inventory increase Net income Prepaid expenses increase $3,000 7,000 9,000 16,000 31,000 9,000 6,000 100,000 69,000 45,000 11,000 39,000 14,000 11,000 94,000 8,000

Statement of Cash Flows (Indirect Method) Use the following information regarding the Newcastle Corporation to prepare a statement of cash flows using the indirect method: Accounts payable decrease Accounts receivable increase Wages payable decrease Amortization expense Cash balance, January 1 Cash balance, December 31 Cash paid as dividends Cash paid to purchase land Cash paid to retire bonds payable at par Cash received from issuance of common stock Cash received from sale of equipment Depreciation expense Gain on sale of equipment Inventory increase Net income Prepaid expenses increase $3,000 7,000 9,000 16,000 31,000 9,000 6,000 100,000 69,000 45,000 11,000 39,000 14,000 11,000 94,000 8,000

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 19E

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