value 20.00 points Hunter Company is developing its annual financial statements

Question

value 20.00 points Hunter Company is developing its annual financial statements at December 31, 2015. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized Balance Sheet at December 31 Cash Accounts Receivable Inventory Equipment $ 45,660 15,000 23,000 30,000 96,000 Accumulated Depreciation-Equipment (34,600) (27,000) 21,600 24,600 104,400 $161,660 $137,000 Accounts Payable Salaries and Wages Payable Note Payable (long-term) Common Stock Retained Earnings $ 21,400 860 31,000 77,000 31,400 $ 19,000 1,000 42,000 54,000 21,000 $161,660 $137,000 Income Statement for 2015 Sales Revenue Cost of Goods Sold Other Expenses $116,000 69,000 33,400 Net Income 13,600

Explanation / Answer

Statement of cash flow :

Cash flow from operating activity Net income 13600 Adjustment to reconcile net income Depreciation exp 7600 Decrease account receivable 1400 Decrease inventory 5400 Increase account payable 2400 Decrease salary and wages payable (140) Net cash flow from operating activity 30260 Cash flow from investing activity Bought equipment (8400) Net Cash flow from investing activity (8400) Cash flow from Financing activity Issue common stock 23000 Dividend paid (3200) Repaid long term notes payable (11000) Net cash flow from financing activity 8800 Net cash flow 30660 Beginning cash 15000 Ending cash 45660

Related Questions

Navigate

• Browse (All)
• Browse V
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.