y & Practice Gradebook ORION Downloadable eTextbook CALCULATOR FULL so Exercise

Question

y & Practice Gradebook ORION Downloadable eTextbook CALCULATOR FULL so Exercise 12-8 ter 12 Oriole Company's comparative balance sheets are presented below Balance Sheets Cash Accounts receivable Land $15,000 $10,000 21,300 23,400 20,400 25,700 70,100 (15,000)(30.900) 70,100 $111,800 $118,300 Accounts payable Common stock Retained earnings 12,400 27,600 73,400 17,300 $111,800 $118,300 74,000 25,400 dditional information: 1. Net income was $23,300. Dividends declared and paid were $15,000 2. No noncash investing and financing activities occurred during 2019 3. The land was sold for cash of $5,000 Prepare a statement of cash flows for 2019 using the indirect method (Show amounts that decrease cash flow with ether a sign e.g. -15.o O B F2 F5 F8 F9 F10 F11 F12

Explanation / Answer

Statement of cash flow :

Cash flow from operating activities Net income 23100 Adjustment to reconcile net income Depreciation exp 4100 Decrease account receivable 2100 Decrease account payable (15200) Loss on sale of land 300 Net cash flow from operating activities 14400 Sale of land 5000 Net cash flow from investing activities 5000 Cash flow from financing activities Dividend paid (15000) Issue common stock 600 Net cash flow from financing activities (14400) Net cash flow 10000 Beginning cash 5000 Ending cash 15000

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