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 6,000 5,000 Gain on sale of machinery Cash received from sale of machinery Increase in accounts payable 9,000 Net income 2,000 Decrease in accounts receivable $2,250 10,000 2,000 33,000 4,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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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
Increase in inventory
Depreciation expense
Cash received from issuing stock
Cash paid for dividends
$ 41,000
6,000
5,000
Gain on sale of machinery
Cash received from sale of machinery
Increase in accounts payable
9,000 Net income.
2,000 Decrease in accounts receivable
$2,250
10,000
2,000
33,000
4,000
Transcribed Image Text: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 6,000 5,000 Gain on sale of machinery Cash received from sale of machinery Increase in accounts payable 9,000 Net income. 2,000 Decrease in accounts receivable $2,250 10,000 2,000 33,000 4,000
Cash flows from operating activities
VPI COMPANY
Statement of Cash Flows (Indirect Method)
For Current Year Ended December 31
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
Cash flows from financing activities
Transcribed Image Text:Cash flows from operating activities VPI COMPANY Statement of Cash Flows (Indirect Method) For Current Year Ended December 31 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 Cash flows from financing activities
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