need to prepare a statement of cash flows for PR 13-2A Prepare a statement of ca

Question

need to prepare a statement of cash flows for PR 13-2A

Prepare a statement of cash iows, s operating activities. Obj. 2, 3, 4,5 Net cash flow from The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7 operating activities, is as follows: PR 13-2A Statement of cash flows-indirect method Dec. 31, 20Y8 Dec. 31, 20Y7 $225,000 Assets 80,000 100,000 300,000 Cash Accounts receivable (net) Inventories Prepaid expenses Equipment Accumulated depreciation-equipment . Total assets 275,000 510,000 15,000 1,070,000 (200,000) 400,000 SHOW ME HOW EXCEL TEMPLATE 10,000 750,000 (160,000) $1750,000 1400,000 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 100,000 90,000 400,000 200,000 100,000 750,000 610,000 $1,750,000 1,400,000 Mortgage note payable 600,000 300,000 Paid-in capital: Excess of issue price over par-common stock

Explanation / Answer

Cash flow Statememnt Cash flows from Operating activities: Net income for the year 190000 Adjustment required for reconciliation Depreciation 115000 Loss on disposal of equipment 320,000 (395000-75000) Decrease in accounts receivable 25,000 Increase in inventories -110000 Increase in prepaid expenses -5000 Increase in Accounts payable 10,000 Net cash provided fom operating activities 545000 Cash flows from investing activities: Purchase of equipment (750000-395000-1070000) -715000 Net cash used in investing activities -715000 Cash flows from Financing activities: Repaymnt of mortgage loan -400000 issue of common shares 600000 Dividend paid -50000 Net Cash provided from Financing activities 150000 Net decrease n cash -20000 Beginning cassh balance 100000 Ending cassh balance 80000

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