E7-23 Enterprise Fund Statement of Cash Flows [LO 7-5] Inglis City had a beginni
ID: 2513336 • Letter: E
Question
E7-23 Enterprise Fund Statement of Cash Flows [LO 7-5]
Inglis City had a beginning cash balance in its enterprise fund of $895,035. During 2017, the following transactions occurred:
Prepare a statement of cash flows for the Inglis City enterprise fund. (Negative amounts should be indicated by a minus sign.)
Inglis City had a beginning cash balance in its enterprise fund of $895,035. During 2017, the following transactions occurred:
Required Prepare a statement of cash lows for the Ingis City enterprise fund. (Negative amounts should be indicated by a minus sign.) Enterprise Fund Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities 5 2,888,200 Cash Received firom Customers Cash Paid To: 5 1,625,800 474,700 Suppliers Other Proceeds from Sale of Capital Assets 2,189,600 Net Cash Provided by Operating Activities 5 5,075,800 Cash Flows from Noncapital Fi inancing Activities Grant from State Debt Payment Transfer to General Fund 49,500 524,700 24,900 Net Cash Provided by Noncapital Financing Activities 599,100 Cash Flows from Capital Financing Activities Net Cash Used by Capital Financing Activities Cash Flows from Investing Activities Net Cash Provided by Investing Activities Net Increasein Cash and Cash Equivalents Cash and Cash Equivalents, 1/1/2017 Cash and Cash Equivalents, 12/31/2017 5,874,900 5 5,674,900Explanation / Answer
Cash Flow Statement A.Cash flow from Operting Activities Cash received from Customers 2886200 Cash Paid to Suppliers 1625800 Employees 474700 Other 89100 -2189600 1.Net Cash flow from Operating Activities 696600 B.Cash flow from Investing Activities Interest on Investments 42390 Purchase of Equity Investments -74440 Proceeds from Sale of Equipment 56800 2.Net Cash flow from Investing Activities 24750 C.Cash flow from Financing Activities Grants from State 49500 Debt Payment -524700 3.Net Cash flow from Financing Activities -475200 a.Net Increase in Cash and Cash Equivalents(1+2+3) 246150 b.Cash and Cash Equivalents 01/01/2017 895035 c.Cash and Cash Equivalents 12/31/2017(a+b) 1141185
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