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To prepare the statement of cash flows, accountants for I-M-Mobi

To prepare the statement of cash flows, accountants for I-M-Mobi

To prepare the statement of cash flows, accountants for I-M-Mobile, Inc., have summarized 2012 activity in the Cash account as follows:

Cash Beginning balance Issuance of common stock Receipts of interest revenue Collections from customers 87,900 Payments

Requirement
1. Prepare I-M-Mobile€™s statement of cash flows for the year ended December 31, 2012, using the direct method to report operatingactivities.

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Transcribed Image Text

Cash Beginning balance Issuance of common stock Receipts of interest revenue Collections from customers 87,900 Payments of operating expenses 60,700 Payments of salaries and wages 15,600 Payment of note payable 308,700 Payment of income tax Payments on accounts payable Payments of dividends Payments of interest Purchase of equipment 46,200 64,500 78,000 8,000 101,200 1,200 21,400 56,500 Ending balance 95,900

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