A list of selected items involving Fischer Companys cash flow activities for 2016 is presented here: a.

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A list of selected items involving Fischer Company’s cash flow activities for 2016 is presented here:
a. Patent amortization expense, $3,500
b. Machinery was purchased for $ 39,500
c. At year-end, bonds payable with a face value of $20,000 were issued for $17,000
d. Net income, $47,200
e. Dividends paid, $16,000
f. Depreciation expense, $12,900
g. Preferred stock was issued for $13,600
h. Investments were acquired for $21,000
i. Accounts receivable increased by $4,300
j. Land was sold at cost, $11,000
k. Inventories increased by $15,400
l. Accounts payable increased by $2,700
m. Beginning cash balance, $19,400
Required:
Prepare Fischer’s statement of cash flows for 2016.
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...
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Related Book For  book-img-for-question

Intermediate Accounting Reporting and Analysis

ISBN: 978-1285453828

2nd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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