Following is a partially completed statement of cash flows for Culwell Company. Selected line descriptions and amounts
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Culwell Company Statement of Cash Flows For Year Ended June 30, 2013 Cash Flows from (used by a Acivtos Add (Deduct) tems to Convert NetIncome from Accrual Basis to Cash Basis Depreciaion Expense, Building Depreciaton Expense, Equipment ein Accounts Receivable inet Increase in Marchandise Inventory s 23.200 (18,043) (5.200) 350 (14,340) 432 (432) 250 fin Prepaid Insurance Decrease in Accounts Payable -g in Salaries Payable hin Income Tax Payable Increase in Interest Payable (6.483) $443,517 Not Cash Flows fromi Activities Cash Flows from (used byActivities: 97820 k from Notes Receivable Net Cash Flows from Activities m. Cash Flows from (used by) f Note n Activities (6.400) Issuance of Common Stock Payment of Dividends Net Cash Flows used by Financing Activites (13,594) 15,174) Not Increase (Decreaso) in Cash Cash, I Cash, S 47840
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a Operating b Net Income c 450000 d 7300 e Incre...View the full answer
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Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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