The following are various cash flows and other information of the Trainer Company for 2007: a. Payments
Question:
Company for 2007:
a. Payments of interest, $5,000
b. Depreciation expense, $22,700
c. Receipt from sale of land, $3,100
d. Payments of income taxes, $6,200
e. Beginning cash balance, $16,500
f. Decrease in receivables, $7,400
g. Interest and dividends collected, $6,300
h. Payments of dividends, $5,200
i. Decrease in accounts payable, $8,600
j. Payments to suppliers and employees, $50,300
k. Receipt from issuance of common stock, $11,000
l. Collections from customers, $61,700
m. Payment for purchase of investments, $17,800
n. Net income, $73,400
Required
Using the direct method for operating cash flows, prepare the Trainer Company’s 2007 statement of cash flows.
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Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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