2201:58:54CEO CONSULTANTSStatement of Cash FlowsFor the Year Ended December 31, 20211Cash Flows from Operating ActivitiesAdjustments to reconcile net income to net cash flows from operating activities:Net cash flows from operating activitiesCash Flows from Investing ActivitiesNet cash flows from investing activitiesCash Flows from Financing ActivitiesNet cash flows from financing activitiesNet increase (decrease) in cashCash at the beginning of the periodCash at the end of the period$(43,000)97,00054,000 A company has gathered data to be used in preparing the statement of cash flows (indirect method).Listed below, in no particular order, are items to be included in that statement.Purchase of equipmentIncrease in inventoryIncrease in prepaid rentPayment of dividends$ 228,00034,0007,00034,000Depreciation expense11,00052,000Increase in accounts receivableIncrease in accounts payable.Loss on sale of land16,00013,500Net income67,000Repayment of notes payable42,000Cash received from the sale of land5,500241,000Issuance of common stockPrepare the company's statement of cash flows using the indirect method. (Amounts to be deducted and negative values should beindicated by minus sign.)CEO CONSULTANTSStatement of Cash FlowsFor the Year Ended December 31, 2021Cash Flows from Operating ActivitiesAdjustments to reconcile net income to net cash flows from operating activities

Cash flow statement means the statement which shows the movement of cash in flow and out flow under…

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 (43,000) 97,000 $ 54,000 Net increase (decrease) in cash Cash at the beginning of the period Cash at the end of the period

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 (43,000) 97,000 $ 54,000 Net increase (decrease) in cash Cash at the beginning of the period Cash at the end of the period

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 27BE

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