Use the following information of VPI Company to prepare a statement of cash flows for the...
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Use the following information of VPI Company to prepare a statement of cash flows for the year ended December 31 using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. Cash balance at prior year-end Increase in inventory Depreciation expense. Cash received from issuing stock Cash paid for dividends $ 40,600 5,600 4,600 8,600 Net income 1,600 Decrease in accounts receivable Gain on sale of machinery Cash received from sale of machinery Increase in accounts payable $ 2,150 9,800 1,800 29,000 3,600 Use the following information of VPI Company to prepare a statement of cash flows for the year ended December 31 using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. Cash balance at prior year-end Increase in inventory Depreciation expense. Cash received from issuing stock Cash paid for dividends $ 40,600 5,600 4,600 8,600 Net income 1,600 Decrease in accounts receivable Gain on sale of machinery Cash received from sale of machinery Increase in accounts payable $ 2,150 9,800 1,800 29,000 3,600
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Statement of Cash Flows for VPI Company For the Year Ended December 31 Operating Activities Net Income 29000 Adjustments to Reconcile Net Income to Ne... View the full answer
Related Book For
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
Posted Date:
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