Use the following information to perform the calculations below (using the indirect method). Clearly label the amount
Question:
Use the following information to perform the calculations below (using the indirect method). Clearly label the amount of each answer as positive or negative. Enter your number in whole dollars and use commas and dollar signs. You need to show your calculations. I know that's tedious, but if you don't have the correct answer I need to see the calculation to give you partial credit.
Net income $369,000 Beginning Accounts Payable $119,000
Depreciation expense 97,000 Ending accounts payable 146,000
Beginning accounts receivable 420,000 Purchase of equipment for cash 612,000
Ending accounts receivable 439,000 Issuance of long-term debt 200,000
Beginning inventory 516,000 Issuance of stock for cash 160,000
Ending inventory 560,000 Issuance of stock for land 110,000
Beginning prepaid expenses 42,000 Purchase of treasury stock 64,000
Ending prepaid expenses 48,000 Sale of long-term investment at cost 39,000
1. Calculate the amount of cash flows from operations. (Points : 5)
2. Calculate the amount of cash flows from investing activities. (Points : 5)
3. Calculate the amount of cash flows from financing activities. (Points : 5)
4. Calculate the net change in cash. (Points : 5)
Advanced Accounting
ISBN: 978-1934319307
2nd edition
Authors: Susan S. Hamlen, Ronald J. Huefner, James A. Largay III