Question: (Learning Objective 3: Prepare operating cash flowsindirect method) Eldred Corporation accountants have assembled the following data for the year ended June 30, 2012: Net income

(Learning Objective 3: Prepare operating cash flowsindirect method) Eldred Corporation accountants have assembled the following data for the year ended June 30, 2012:

Net income

$ ?

Payment of dividends

5,500

Proceeds from the issuance of common stock

15,000

Sales revenue

222,000

Increase in current assets other than cash

32,000

Purchase of treasury stock

8,000

Cost of goods sold

$114,000

Other operating expenses

39,000

Purchase of equipment

37,000

Increase in current liabilities

11,000

Payment of note payable

29,000

Proceeds from sale of land

31,000

Depreciation expense

6,000

Prepare the operating activities section of Eldreds statement of cash flows for the year ended June 30, 2012. Eldred uses the indirect method for operating cash flows. PLEASE CHART ON COMPUTER. NO HAND WRITTEN DATA PLEASE! THANK YOU.

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!