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 Increase in inventory Depreciation expense Cash received from issuing stock Cash paid for dividends $ 41,000 Gain on sale of machinery 6,000 Cash received from sale of machinery 5,000 Increase in accounts payable 9,000 Net income 2,000 Decrease in accounts receivable $ 2,250 10,000 2,000 33,000 4,000 VPI COMPANY Statement of Cash Flows (Indirect Method) For Current Year Ended December 31 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
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 Increase in inventory Depreciation expense Cash received from issuing stock Cash paid for dividends $ 41,000 Gain on sale of machinery 6,000 Cash received from sale of machinery 5,000 Increase in accounts payable 9,000 Net income 2,000 Decrease in accounts receivable $ 2,250 10,000 2,000 33,000 4,000 VPI COMPANY Statement of Cash Flows (Indirect Method) For Current Year Ended December 31 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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Cash flows from investing activities
Cash flows from financing activities
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Transcribed Image Text:Changes in current operating assets and liabilities
Cash flows from investing activities
Cash flows from financing activities
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QS 12-18 (Algo) Indirect: Preparing statement of cash flows LO P2, P3
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
Increase in inventory
Depreciation expense
Cash received from issuing stock
Cash paid for dividends
$ 41,000 Gain on sale of machinery
6,000 Cash received from sale of machinery
5,000 Increase in accounts payable
$ 2,250
10,000
2,000
33,000
9,000 Net income
2,000 Decrease in accounts receivable
4,000
VPI COMPANY
Statement of Cash Flows (Indirect Method)
For Current Year Ended December 31
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
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Transcribed Image Text:Check my work
QS 12-18 (Algo) Indirect: Preparing statement of cash flows LO P2, P3
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
Increase in inventory
Depreciation expense
Cash received from issuing stock
Cash paid for dividends
$ 41,000 Gain on sale of machinery
6,000 Cash received from sale of machinery
5,000 Increase in accounts payable
$ 2,250
10,000
2,000
33,000
9,000 Net income
2,000 Decrease in accounts receivable
4,000
VPI COMPANY
Statement of Cash Flows (Indirect Method)
For Current Year Ended December 31
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
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