To determine Prepare the statement of cash flows for the year ended December 31 of Corporation P. Explanation Statement of cash flows: It is one of the financial statement that shows the cash and cash equivalents of a company for a particular period. It determines the net changes in cash through reporting the sources and uses of cash due to the operating, investing, and financing activities of a company. Operating activities: Operating activities refer to the normal activities of a company to carry out the business. The examples for operating activities are purchase of inventory, payment of salary, sales, and others. Investing activities: Investing activities refer to the activities carried out by a company for acquisition of long term assets. The examples for investing activities are purchase of equipment, long term investment, sale of land, and others. Financing activities: Financing activities refer to the activities carried out by a company to mobilize funds to carry out the business activities. The examples for financing activities are purchase of bonds, issuance of common shares, and others. Prepare the statement of cash flows for the year ended December 31 of Corporation P. Corporation P Consolidated Statements of Cash Flows For the year ended December 31 Particulars Amount ($) Amount ($) Cash flows from operating activities: Net income 71,993 Adjustments to reconcile net cash provided by operating activities: Depreciation 9,746 Amortization 1,556 Loss on sale of property and equipment 263 Changes in operating assets and liabilities ...

10th Edition

ISBN: 9781266449512

Author: Libby

Publisher: MCG

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Chapter 12, Problem 1CON

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Prepare the statement of cash flows for the year ended December 31 of Corporation P.

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Chapter 12 Solutions

FINANCIAL ACCOUNTING (LL)

Ch. 12 - Prob. 1Q Ch. 12 - 2. What information does the statement of cash...Ch. 12 - Prob. 3Q Ch. 12 - 4. What are the major categories of business...Ch. 12 - 5. What are the typical cash inflows from...Ch. 12 - Prob. 6Q Ch. 12 - 7. Explain why cash payments during the period for...Ch. 12 - 8. Explain why a $50,000 increase in inventory...Ch. 12 - Prob. 9Q Ch. 12 - Prob. 10Q

Ch. 12 - Prob. 11Q Ch. 12 - Prob. 12Q Ch. 12 - Prob. 13Q Ch. 12 - Prob. 1MCQ Ch. 12 - Prob. 2MCQ Ch. 12 - 3. If the balance in prepaid expenses has...Ch. 12 - Prob. 4MCQ Ch. 12 - 5. Which of the following would not appear in the...Ch. 12 - Prob. 6MCQ Ch. 12 - Prob. 7MCQ Ch. 12 - 8. Consider the following: Issued common stock for...Ch. 12 - Prob. 9MCQ Ch. 12 - 10. The total change in cash as shown near the...Ch. 12 - MolsonCoors Brewing Company is the world’s fifth...Ch. 12 - Determining the Effects of Account Changes on Cash...Ch. 12 - Matching Items Reported to Cash Flow Statement...Ch. 12 - Prob. 4ME Ch. 12 - Computing Cash Flows from Investing...Ch. 12 - Computing Cash Flows from Financing...Ch. 12 - Prob. 7ME Ch. 12 - Adidas AG is a global company that designs and...Ch. 12 - Dell Technologies Inc. is an integrated IT...Ch. 12 - Woolworths Group is one of the largest retailers...Ch. 12 - Prob. 4E Ch. 12 - Prob. 5E Ch. 12 - Comparing the Direct and Indirect Methods To...Ch. 12 - E12-7 Reporting Cash Flows from Operating...Ch. 12 - E12-8 Reporting and Interpreting Cash Flows from...Ch. 12 - Time Warner Inc. is a leading media and...Ch. 12 - Reporting and Interpreting Cash Flows from...Ch. 12 - E 12-11 Inferring Balance Sheet Changes from the...Ch. 12 - Prob. 12E Ch. 12 - E12-13 (Chapter Supplement B) Computing and...Ch. 12 - During the period, Sanchez Company sold some...Ch. 12 - Prob. 15E Ch. 12 - Prob. 16E Ch. 12 - Prob. 17E Ch. 12 - Computer Service and Repair was started five years...Ch. 12 - Prob. 19E Ch. 12 - E12-20 Reporting Noncash Transactions on the...Ch. 12 - E12-21 (Chapter Supplement A) Reporting Cash Flows...Ch. 12 - E12-22 (Chapter Supplement A) Reporting and...Ch. 12 - E12-23 (Chapter Supplement A) Reporting and...Ch. 12 - Prob. 24E Ch. 12 - Prob. 1P Ch. 12 - BGP Electrical Supply is developing its annual...Ch. 12 - Prob. 3P Ch. 12 - Prob. 4P Ch. 12 - XS Supply Company is developing its annual...Ch. 12 - Prob. 6P Ch. 12 - Ingersol Construction Supply Company is developing...Ch. 12 - Prob. 2AP Ch. 12 - Prob. 3AP Ch. 12 - CON12-1 Preparing the Statement of Cash Flows...Ch. 12 - Refer to the financial statements of American...Ch. 12 - Prob. 2CP Ch. 12 - Prob. 3CP Ch. 12 - Rocky Mountain Chocolate Factory manufactures an...Ch. 12 - CP12-5 Making a Decision as a Financial Analyst:...Ch. 12 - Critical Thinking Case Ethical Decision Making: A...

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