Question

Natalie Daniels has completed the basic format to be used in preparing the statement of cash flows (indirect method) for CPU Hardware Designers. All amounts are in thousands (000s).
CPU HARDWARE DESIGNERS
Statement of Cash Flows
For the year ended December 31, 2015
Cash Flows from Operating Activities
Net income
Adjustments to reconcile net income to net cash
flows from operating activities:
Net cash flows from operating activities ......... _______
Cash Flows from Investing Activities
Net cash flows from investing activities ......... _______
Cash Flows from Financing Activities
Net cash flows from financing activities ......... _______
Net increase (decrease) in cash .............. $(28,000)
Cash at the beginning of the period ............ 90,000
Cash at the end of the period ............. $ 62,000
Below, in random order, are line items to be included in the statement of cash flows.
Cash received from the sale of land ........ $ 4,000
Issuance of common stock ............. 300,000
Depreciation expense .............. 30,000
Increase in accounts receivable ........... 70,000
Increase in accounts payable ............ 11,000
Loss on sale of land .............. 8,000
Purchase of equipment ............. 230,000
Increase in inventory ............... 40,000
Increase in prepaid rent .............. 11,000
Payment of dividends ............. 50,000
Net income .................. 80,000
Repayment of notes payable ............ 60,000

Required:
Prepare the statement of cash flows for CPU Hardware Designers using the indirect method.



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  • CreatedJuly 15, 2014
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