Use the following information to prepare the Operating Activities section of the Statement of Cash FlowsWalkRight Inc.For the Year Ended December 31, 2017$ 1,600,000Net IncomeProceeds from Issuance of Common Stock$ 1,000,000Increase in inventoryIncrease in Accounts Payable400,000$250,000Purchase of Equipment$ 1,200,000Payment of Cash Dividend500,000750,000$Depreciaiton ExpenseIncrease in Accounts Receivable200,000Payment of Mortgage60,000Reminder: You are being asked to prepare the Operating Activities section only.WalkRight Inc.Statement of Cash FlowsFor the Year Ended December 31, 2017Cash flows from operating activities

The cash flow statement is prepared to record the cash flow from various activities during the period. Walk Right Inc Cash Flow Statement For the Year Ended December 31, 2017 Cash flow from operating activities Net income 1,600,000 Adjustments to reconcile the net income : Depreciation expense 750,000 Increase in inventory (400,000) Increase in account payable 250,000 Increase in account receivables (200,000) Net Cash provided by operating activities 2,000,000

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Use the following information to prepare the Operating Activities section of the Statement of Cash Flows WalkRight Inc. For the Year Ended December 31, 2017 $ 1,600,000 Net Income $ 1,000,000 400,000 $ Proceeds from Issuance of Common Stock Increase in inventory Increase in Accounts Payable Purchase of Equipment 250,000 $ 1,200,000 500,000 $ Payment of Cash Dividend Depreciaiton Expense $ 750,000 200,000 60,000 Increase in Accounts Receivable Payment of Mortgage Reminder: You are being asked to prepare the Operating Activities section only. WalkRight Inc. Statement of Cash Flows For the Year Ended December 31, 2017 Cash flows from operating activities %24

Use the following information to prepare the Operating Activities section of the Statement of Cash Flows WalkRight Inc. For the Year Ended December 31, 2017 $ 1,600,000 Net Income $ 1,000,000 400,000 $ Proceeds from Issuance of Common Stock Increase in inventory Increase in Accounts Payable Purchase of Equipment 250,000 $ 1,200,000 500,000 $ Payment of Cash Dividend Depreciaiton Expense $ 750,000 200,000 60,000 Increase in Accounts Receivable Payment of Mortgage Reminder: You are being asked to prepare the Operating Activities section only. WalkRight Inc. Statement of Cash Flows For the Year Ended December 31, 2017 Cash flows from operating activities %24

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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