Urgent! 1)Complete the statement of cash flow ash Flows from Operating Activitie

Question

Urgent! 1)Complete the statement of cash flow ash Flows from Operating Activities 2017 2016 balance change Assets Cash Acct Receivable Inventory Prepaid Exp 56,50022,000 81,000 23,000 10,000 34,500 37,000 (2,000) 80,000 60,000 8,000 (12,000) 107,000119,000 54,000 15,000 9,000 63,000 19,500 394,000 Equipment Total assets.. Cash Flows from Investing AP Wages Pay Interest Pay Taxes Pay Notes payable, long term (14,000) 23,000 37,000 20,000 12,000 6,000 92,000 180,000 167,000 16,000 2,000 3,000 6,000 36,000 14,000 9,000 98,000 Cash Flows from Financing Total liabilities Common Stock Retained earnings 15,000 s 131,000 116,000 11,000 127,000 294,000 33,000 48,000 44,000 175,000 355,000 Total stockholders' equity 22,000 Total liabilities and stockholdery equity. Cash at the beginning of the year Cash at the ending of the year $ 56,500 Notes: 1. Net Income for 2017 was $38,000 2. Equipment was sold for $12,00 with original cost of $16,000 resulting in a loss of $2,50 3. Equipment was purchased for cash. 4. Land was sold for 5. Common stock was issued for cash 8,100

Explanation / Answer

Dear Student,

Cash Flow Statement:

WN1

WN2

WN 3

WN 4

Regards,

Cash Flow from Operating Activities Particulars Amount Amount Net Income 38,000 Add: Provision for tax 9000 Add: Depreciation for the year (WN1) 6,000 Add: Loss on sale of Equipment (WN2) 2,500 Add: Land value depletion (WN4) 3,900 Net Income before working capital changes 59,400 Add: Decrease in Account receivable 1,000 Less: Increase in inventory -37,000 Add: Decrease in prepaid Exp 2,000 Less: Decrease in AP -14,000 Add: Increase in Wages Pay 16,000 Add: Increase in Interest Pay 2,000 Net Cash Flow after working Capital changes 29,400 Less: Tax paid -6,000 Net Cash Flow from Operating Activities (A) 23,400 Cash Flow from Investing Activities Particulars Amount Amount Sale of Equipment 12,000 Less: Purchase of Equipment (WN3) -25,000 Add: Sale of Land 8,100 Cash Flow from Investing Activities (B) -4,900 Cash Flow from Financing Activities Particulars Amount Amount Issue of Common Stock 15,000 Issue of Long terrm Notes 6,000 Less: Dividend paid -5,000 Cash Flow from Financing Activities (C ) 16,000 Net increase in cash 34,500 Cash at the beginning of the year 22,000 Cash at the end of the year 56,500

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