The following information pertains to Karim Company: Account 2016 2017 Cash 20,000 485,000 Account Receivables 190,000 80,000 Inventories 150,000 185,000 Equipment 110,000 110,000 Land 360,000 320,000 Accounts payable 76,000 66,000 Notes Payable 50,000 30,000 Bonds Payable 720,000 450,000 Long Term Loans 800,000 920,000 Depreciation during the period was $80,000; Net income $460,000; cash dividends $10,000. Instructions: Prepare statement of cash flows for 2017.

The following information pertains to Karim Company: Account 2016 2017 Cash 20,000 485,000 Account Receivables 190,000 80,000 Inventories 150,000 185,000 Equipment 110,000 110,000 Land 360,000 320,000 Accounts payable 76,000 66,000 Notes Payable 50,000 30,000 Bonds Payable 720,000 450,000 Long Term Loans 800,000 920,000 Depreciation during the period was $80,000; Net income $460,000; cash dividends $10,000. Instructions: Prepare statement of cash flows for 2017.

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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