A company has gathered data to be used in preparing the statement of cash flows...

50.1K

Verified Solution

Question

Accounting

image
image
image
A company has gathered data to be used in preparing the statement of cash flows (indirect method). Listed below, in no particular order, are items to be included in that statement Purchase of equipment Increase in inventory Increase in prepaid rent Payment of dividends Depreciation expense Increase in accounts receivable Increase in accounts payable Loss on sale of land Net income Repayment of notes payable Cash received from the sale of land Issuance of common stock $ 229,000 26,000 7.000 40,000 16,000 50,000 23,000 10,000 60.000 50,000 4,500 249,000 Prepare the company's statement of cash flows using the indirect method. (Amounts to be deducted and negative values should be indicated by minus sign.) CEO CONSULTANTS Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities Adjustments to reconcile not income to net cash flows from operating activities: indicated by minus sign.) CEO CONSULTANTS Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Net increase (decrease) in cash Cash at the beginning of the period Cash at the end of the period (39,500) 100,000 60,500 A company's financial statements include the following selected data ($ in millions): Sales, $22,600; Net Income, $900; Beginning stockholders' equity, $3,520, Ending stockholders' equity, $4.140, Calculate the return on equity. (Round your answer to 1 decimal place.) Rietumon equity %

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students