Use the following data to prepare a statement of cash flows for the year ended December 31 using the indirect method. $ 8,000 Cash balance at prior year-end Increase in wages payable Depreciation expense 300 800 Gain on sale of equipment Net income 400 Cash received from issuing stock Cash received from sale of equipment Cash paid for dividends Increase in prepaid expenses Decrease in accounts receivable : 4,600 1,600 1,900 200 1,000 600
Use the following data to prepare a statement of cash flows for the year ended December 31 using the indirect method. $ 8,000 Cash balance at prior year-end Increase in wages payable Depreciation expense 300 800 Gain on sale of equipment Net income 400 Cash received from issuing stock Cash received from sale of equipment Cash paid for dividends Increase in prepaid expenses Decrease in accounts receivable : 4,600 1,600 1,900 200 1,000 600
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 1PB
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Use the following data to prepare a statement of cash flows for the year ended December 31 using the indirect method.
Cash balance at prior year-end
$ 8,000
300
Increase in wages payable
Depreciation expense
800
400
Gain on sale of equipment
Net income
Cash received from issuing stock
Cash received from sale of equipment
Cash paid for dividends
Increase in prepaid expenses-
Decrease in accounts receivable
Cash flows from operating activities
Net income
Adjustments to reconcile net income to net cash provided by operating activities
Income statement items not affecting cash
Changes in current operating assets and liabilities
Cash flows from investing activities
4,600
1,600
1,900
200
1,000
600
Statement of Cash Flows (Indirect Method)
For Current Year Ended December 31
Cash flows from financing activities](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2da59b79-efcb-4504-a5e9-dff0d8563be1%2Ffdcd1aee-a0fb-410f-80f1-113ecfc58956%2Fy82yc0l_processed.png&w=3840&q=75)
Transcribed Image Text:11
Use the following data to prepare a statement of cash flows for the year ended December 31 using the indirect method.
Cash balance at prior year-end
$ 8,000
300
Increase in wages payable
Depreciation expense
800
400
Gain on sale of equipment
Net income
Cash received from issuing stock
Cash received from sale of equipment
Cash paid for dividends
Increase in prepaid expenses-
Decrease in accounts receivable
Cash flows from operating activities
Net income
Adjustments to reconcile net income to net cash provided by operating activities
Income statement items not affecting cash
Changes in current operating assets and liabilities
Cash flows from investing activities
4,600
1,600
1,900
200
1,000
600
Statement of Cash Flows (Indirect Method)
For Current Year Ended December 31
Cash flows from financing activities
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