Question

The following items were gathered from Daniels Distributing’s general ledger:

Purchase of marketable securities......... $200,000
Depreciation and amortization expense....... . 31,980
Declaration of preferred dividends......... 8,000
Decrease in Prepaid Assets............ 3,700
Gain on sale of equipment............. 5,200
Net income................... 429,800
Beginning Cash balance.............. 43,740
Proceeds from loan................ 125,000
Payment for purchase of equipment........ 80,925
Increase in Accounts Receivable.......... 16,760
Stock-based compensation ............. 180,000
Proceeds from issuing common stock......... 25,000
Increase in Inventory ................ 14,863
Decrease in Accounts Payable........... 13,900
Ending Cash balance .............. 507,572

Required
Using the indirect method, construct Daniels Distributing’s statement of cash flows.



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  • CreatedFebruary 21, 2014
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