The following is a list of items for Witts Company's 2019 statement of cash flows: receipt from sale of equipment, $2,800 increase in inventory, $3,800 net income, $13,400 payment for purchase of building, $30,000 depreciation expense, $8,800 receipt from issuance of bonds, $7,900 increase in prepaid expenses, $700 loss on sale of equipment, $2,100 payment of dividends, $5,300 decrease in accounts receivable, $1,800 issuance of common stock for land, $7,000 decrease in accounts payable, $1,400 beginning cash balance, $10,300 Required: Question Content Area 1. Prepare the statement of cash flows. Use a minus sign to indicate cash outflows, a decrease in cash or cash payments.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following is a list of items for Witts Company's 2019 statement of cash flows:

  1. receipt from sale of equipment, $2,800
  2. increase in inventory, $3,800
  3. net income, $13,400
  4. payment for purchase of building, $30,000
  5. depreciation expense, $8,800
  6. receipt from issuance of bonds, $7,900
  7. increase in prepaid expenses, $700
  8. loss on sale of equipment, $2,100
  9. payment of dividends, $5,300
  10. decrease in accounts receivable, $1,800
  11. issuance of common stock for land, $7,000
  12. decrease in accounts payable, $1,400
  13. beginning cash balance, $10,300

Required:

Question Content Area

1. Prepare the statement of cash flows. Use a minus sign to indicate cash outflows, a decrease in cash or cash payments.

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