Use the following information of VPI Company to prepare a statement of cash flows for the year ended December 31 using the indirectmethod. (Amounts to be deducted should be indicated by a minus sign.)Cash balance at prior year-endIncrease in inventoryDepreciation expenseCash received from issuing stockCash paid for dividendsCash flows from operating activitiesVPI COMPANYStatement of Cash Flows (Indirect Method)For Current Year Ended December 31Changes in current operating assets and liabilities$43,6008,6007,60011,6004,600Adjustments to reconcile net income to net cash provided by operating activitiesIncome statement items not affecting cashCash flows from investing activitiesGain on sale of machineryCash received from sale of machineryIncrease in accounts payableNet incomeDecrease in accounts receivableCash flows from financing activities$ 2,90011,3003,30059,0006,600

Name: Use the following information of VPI Company to prepare a statement o
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Description: Use the following information of VPI Company to prepare a statement of cash flows for the year ended December 31 using the indirectmethod. (Amounts to be deducted should be indicated by a minus sign.)Cash balance at prior year-endIncrease in invento

Statement of cash flows: It is a financial statement that shows the increase or decrease in the cash and cash equivalents during the year. A cash flow statement is also known as a statement of cash flows. It breaks the analysis into operating, investing, and financing activities.VPI CO Statement of Cash flows (Indirect method) For the Current year ended December 31 Cash flow from Operating activities Net Income $59,000 Adjustments to reconcile net income to net cash provided by operating activities Income statement not affecting cash Depreciation Expense 7,600 Gain on the sale of Machinery -2,900 Changes in Current Operating assets and liabilities Decrease in Accounts Receivable 6,600 Increase in Inventory -8,600 Increase in Accounts Payable 3,300 Net cash Provided by operating activities $65,000 Cash flows from Investing Activities Cash Received from Sale of Machinery $11,300 Net cash provided by Investing activities $11,300 Cash flows from financing Activities Cash Received from Issuing Stock $11,600 Cash Paid for Dividend 4,600 Net cash provided by financing activities $7,000 Net increase in Cash $83,300 Cash Balance at Prior Year-end $43,600 Cash Balance at Current Year-end $126,900

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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 VPI COMPANY Statement of Cash Flows (Indirect Method) For Current Year Ended December 31 Cash flows from operating activities 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 $ 43,600 Gain on sale of machinery 8,600 7,600 Cash received from sale of machinery Increase in accounts payable 11,600 Net income 4,600 Decrease in accounts receivable Cash flows from investing activities Cash flows from financing activities $ 2,900 11,300 3,300 59,000 6,600

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 VPI COMPANY Statement of Cash Flows (Indirect Method) For Current Year Ended December 31 Cash flows from operating activities 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 $ 43,600 Gain on sale of machinery 8,600 7,600 Cash received from sale of machinery Increase in accounts payable 11,600 Net income 4,600 Decrease in accounts receivable Cash flows from investing activities Cash flows from financing activities $ 2,900 11,300 3,300 59,000 6,600

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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