Verizon 10:47 PM edugen.wileyplus.com C Kieso, Intermediate Accounting, 16e Grad

Question

Verizon 10:47 PM edugen.wileyplus.com C Kieso, Intermediate Accounting, 16e Gradebosk ORION Ayaya. Company, a major reader of bicycles and accessones, operates several stores and isPhkiytraded company The comparative balance sheet and income seatement for Ayayaias of May 31, 2017 are as follows. The company is prepaning its stanement of cash ow 2,200 19800 74,500 %200 Accounts receivable Inventory Prepaid experses Plant anets Plant assets Less Accumulated depreciaton- plant assets 94,300 499200 51,300 124500 Net plant assets 5900 711,700 Accounts pryable Salaries and wages payable Interest payable 122,300 116.200 47/40072500 7,200 24900 version 4242

Explanation / Answer

Prepare the cash flow statement using direct method as follows:

Prepare the operating activities section of the cash flow statement using indirect method as follows:

A Company Statement of Cash Flows (Partial) For the Year Ended May 31, 2017 Cash flows from operating activities: Cash collected from customers (58200+1264700-74500) 1248400 Cash payments: Cash paid to suppliers (116200+695700-122300) 689600 Cash paid for salaries and wages (72500+252400-47400) 277500 Cash paid for interest expense (24900+74500-27200) 72200 Cash paid for other expenses (9100+8100-7100) 10100 Cash paid for income tax expense 43200 1092600 Net cash provided by operating activities 155800 Cash flows from investing activities: Purchase of plant assets -25100 Net cash used in investing activities -25100 Cash flows from financing activities: Repayment of bonds payable (100000-70000) -30000 Issuance of common stock (2000 x $10) 20000 Dividends paid -112300 Net cash used in financing activities -122300 Net increase in cash during 2017 8400 Beginning cash balance 19800 Ending cash balance 28200

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