Question: Create a Statement of Cash Flows using the information provided. Net Income: $320000 Increase in Accounts Receivable by $25000 Decrease in Accounts Payable by $10000

Create a Statement of Cash Flows using the information provided.

Net Income: $320000

Increase in Accounts Receivable by $25000

Decrease in Accounts Payable by $10000

Depreciation Expense of $6000

Sale of Land for $55000

Sale of Building for $24000

Payments of Dividends for $40000

Exchange of Land for Patent worth $20000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

What happens to the non controlling interest dividends of $24,000 in preparing of consolidated cash flows from operating activities ? Consolidated net income 100,000 Increase in account receivable...

Q:

using the following template for the indirect method, prepare the operating activity section of the statement of cash flow's using the information below: The net income report on the income statement...

Q:

The following information is provided for HMG Company: Required Prepare the operating activities section of the statement of cash flows using the a) Direct method b) Indirect method. Balances at...

Q:

Problem 13-10 The following are line items included in the 218 statement of cash flows prepared by Handley's Clothing Company: Depreciation expense Increase in accounts receivable Increase in...

Q:

using the selected data below, calculate the net cash provided by operating activities: Net income $275,000 Increase in accounts receivable $17,000 Decreasein accounts payable $14,000 Gain on the...

Q:

Taylor Company has the following data. Prepare a cash flow statement based on the information below, then fill in the following items on the statement: (note: if any item is a reduction in cash,...

Q:

Equipment was purchased for $650,000. The patent was sold at the end of the year Create a statement of cash flows using the information below: DR CR Cash 199,061 Investments 530,000 Fair value...

Q:

9. Peter Senen Company provided the following data for the current year. Sales P7,500,000 Cost of goods sold 4,000,000) Expenses paid 1,100,000) Depreciation wk 400,000) Net Income P2,000,000...

Q:

9. Peter Senen Company provided the following data for the current year. Sales P7,500,000 Cost of goods sold 4,000,000) Expenses paid 1,100,000) Depreciation wk 400,000) Net Income P2,000,000...

Q:

Create a statement of cash flows with the information provided. PROBLEM 13-7 Prepare a Statement of Cash Flows LO13-1, LO13-2 Comparative financial statements for Weaver Company follow: Weaver...

Q:

Kensaq is a mining company. Its mission is to 'maximize profits for shareholders whilst recognizing its responsibilities to society'. Its considering a mining opportunity abroad in a remote country...

Q:

Consider the previous question with the following details: A company is considering a project that will last for 4 years with no residual value. The project has the following cash flows and details:...

Q:

8. Zena Brown has the following balances in its assets, liability, and owners equity accounts. What is the balance of Cash? Cash ???? Office Equipment $ 26,500 Accounts Payable $ 30,300 Zena Brown,...

Q:

Discuss the policy statement concept and identify three focus areas / procedures where a clearpolicy statement / operating procedure

Q:

Calculate the cost per hire for each recruitment source.

Q:

What might be some advantages of using mobile recruiting?

Q:

What external methods of recruitment are available?