Instructions: You are to place the items below in their proper place in the statement of...
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Instructions: You are to place the items below in their proper place in the statement of cash flows and also decide whether each item should be a debit or credit Your statement of cash flows will be graded as follows: Overall format 3.50 Operating activities 3.00 Investing Activities 3.00 Financing Activities 3.00 Total 12.50 points Increase in Wages Payable 7,000 Cash at beginning of year 130,000 Retirement of long-term debt 500,000 Increase in inventory 18,000 Amortization of intangible assets 10,000 Increase in cash 59,200 Purchase machinery 62,000 Increase in accounts receivable 19,000 increase in interest payable 5,900 Bonds exchanged for Common Stock 45,000 Dividends paid 22,000 Decrease in accounts payable 23,400 Net income 450,700 Sale of common stock 160,000 Depreciation expense 70,000 The Staples Corporation Statement of Cash Flows As of December 31, 2023 Indirect Method Instructions: You are to place the items below in their proper place in the statement of cash flows and also decide whether each item should be a debit or credit Your statement of cash flows will be graded as follows: Overall format 3.50 Operating activities 3.00 Investing Activities 3.00 Financing Activities 3.00 Total 12.50 points Increase in Wages Payable 7,000 Cash at beginning of year 130,000 Retirement of long-term debt 500,000 Increase in inventory 18,000 Amortization of intangible assets 10,000 Increase in cash 59,200 Purchase machinery 62,000 Increase in accounts receivable 19,000 increase in interest payable 5,900 Bonds exchanged for Common Stock 45,000 Dividends paid 22,000 Decrease in accounts payable 23,400 Net income 450,700 Sale of common stock 160,000 Depreciation expense 70,000 The Staples Corporation Statement of Cash Flows As of December 31, 2023 Indirect Method
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