The following is accounting information taken from the Hyde Companys records for 2007: 1. Amortization of premium on bonds payable, $600 2. Purchase of equipment, $6,000 3. Depreciation expense, $7,400 4. Decrease in accounts receivable, $800 5. Decrease in accounts payable, $2,800 6. Issuance of long-term note for cash, $4,200 7. Increase in inventories, $7,500 8. Gain on sale of
The following is accounting information taken from the Hyde Company’s records for 2007:
1. Amortization of premium on bonds payable, $600
2. Purchase of equipment, $6,000
3. Depreciation expense, $7,400
4. Decrease in accounts receivable, $800
5. Decrease in accounts payable, $2,800
6. Issuance of long-term note for cash, $4,200
7. Increase in inventories, $7,500
8. Gain on sale of land, $8,000
9. Increase in prepaid assets, $500
10. Declaration and payment of cash dividends, $1,800
11. Increase in wages payable, $300
12. Patent amortization expense, $1,000
13. Net income, $10,800
Required
Prepare the net cash flow from operating activities section of the 2007 statement of cash flows for the Hyde Company.
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Intermediate Accounting
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
ISBN: 978-0324300987