Statement of Cash Flows The following is a list of the items to be included in the preparation of Warrick Company's 2019 statement of cash flows: Net income, $53,600 Payment for purchase of building, $99,000 Increase in accounts receivable, $7,000 Proceeds from issuance of common stock, $37,500 Increase in accounts payable, $4,800 Proceeds from sale of land, $7,000 Depreciation expense, $17,000 Payment of dividends, $34,000 Gain on sale of land, $3,000 Decrease in inventory, $3,900 Payment for purchase of long-term investments, $8,000 Amortization of discount on bonds payable, $1,100 Proceeds from issuance of note, $17,000 Increase in deferred taxes payable, $4,300 Equipment acquired by capital lease, $16,100 Decrease in salaries payable, $2,400 Beginning cash balance, $20,300 Required 1. Prepare the statement of cash flows. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments.
Statement of Cash Flows The following is a list of the items to be included in the preparation of Warrick Company's 2019 statement of cash flows: Net income, $53,600 Payment for purchase of building, $99,000 Increase in accounts receivable, $7,000 Proceeds from issuance of common stock, $37,500 Increase in accounts payable, $4,800 Proceeds from sale of land, $7,000 Depreciation expense, $17,000 Payment of dividends, $34,000 Gain on sale of land, $3,000 Decrease in inventory, $3,900 Payment for purchase of long-term investments, $8,000 Amortization of discount on bonds payable, $1,100 Proceeds from issuance of note, $17,000 Increase in deferred taxes payable, $4,300 Equipment acquired by capital lease, $16,100 Decrease in salaries payable, $2,400 Beginning cash balance, $20,300 Required 1. Prepare the statement of cash flows. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Statement of
The following is a list of the items to be included in the preparation of Warrick Company's 2019 statement of cash flows:
- Net income, $53,600
- Payment for purchase of building, $99,000
- Increase in
accounts receivable , $7,000 - Proceeds from issuance of common stock, $37,500
- Increase in accounts payable, $4,800
- Proceeds from sale of land, $7,000
Depreciation expense, $17,000- Payment of dividends, $34,000
- Gain on sale of land, $3,000
- Decrease in inventory, $3,900
- Payment for purchase of long-term investments, $8,000
- Amortization of discount on bonds payable, $1,100
- Proceeds from issuance of note, $17,000
- Increase in
deferred taxes payable, $4,300 - Equipment acquired by capital lease, $16,100
- Decrease in salaries payable, $2,400
- Beginning cash balance, $20,300
Required
1. Prepare the statement of cash flows. Use the minus sign to indicate
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