Question: Natalie Daniels has completed the basic format to be used in preparing the statement of cash flows (indirect method) for CPU Hardware Designers. All amounts
| Natalie Daniels has completed the basic format to be used in preparing the statement of cash flows (indirect method) for CPU Hardware Designers. All amounts are in thousands (000s).
|
| CPU HARDWARE DESIGNERS Statement of Cash Flows For the year ended December 31, 2015 | ||
| Cash Flows from Operating Activities | ||
| Net income | ||
| Adjustments for noncash effects: | ||
| Changes in current assets and current liabilities: | ||
| Net cash flows from operating activities | ||
| Cash Flows from Investing Activities | ||
| Net cash flows from investing activities | ||
| Cash Flows from Financing Activities | ||
| Net cash flows from financing activities | ||
| Net increase (decrease) in cash | $ | (39,000) |
| Cash at the beginning of the period | 85,000 | |
| Cash at the end of the period | $ | 46,000 |
| Below, in random order, are line items to be included in the statement of cash flows. |
| Cash received from the sale of land | $ 3,500 |
| Issuance of common stock | 275,000 |
| Depreciation expense | 25,000 |
| Increase in accounts receivable | 65,000 |
| Increase in accounts payable | 12,000 |
| Loss on sale of land | 7,500 |
| Purchase of equipment | 225,000 |
| Increase in inventory | 35,000 |
| Increase in prepaid rent | 12,000 |
| Payment of dividends | 45,000 |
| Net income | 75,000 |
| Repayment of notes payable | 55,000 |
| Required: | ||||||||||||||
| Prepare the statement of cash flows for CPU Hardware Designers using the indirect method.(List cash outflows and any decrease in cash as negative amounts. Enter your answers in thousands.)
|
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
Study Help