Use the following information of VPI Company to prepare a statement of cash flows for the year ended December 31 using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)   Cash balance at prior year-end $ 44,000 Gain on sale of machinery $ 3,000 Increase in inventory 9,000 Cash received from sale of machinery 11,500 Depreciation expense 8,000 Increase in accounts payable 3,500 Cash received from issuing stock 12,000 Net income 63,000 Cash paid for dividends 5,000 Decrease in accounts receivable 7,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Use the following information of VPI Company to prepare a statement of cash flows for the year ended December 31 using the indirect method(Amounts to be deducted should be indicated by a minus sign.)
 

Cash balance at prior year-end $ 44,000 Gain on sale of machinery $ 3,000
Increase in inventory 9,000 Cash received from sale of machinery 11,500
Depreciation expense 8,000 Increase in accounts payable 3,500
Cash received from issuing stock 12,000 Net income 63,000
Cash paid for dividends 5,000 Decrease in accounts receivable 7,000

 

 
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