Exercise 13.7 (Algo) Format of a Statement Cash Flows (LO13-2) The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the current year ended December 31. $ 35,800 159, 200 Cash and cash equivalents, Jan. 1 Cash and cash equivalents, Dec. 31 Cash paid to acquire plant assets Proceeds from short-tern borrowing Loans made to borrowers 22,000 10,000 Collections on loans (excluding interest) Interest and dividends received Cash received from customers Proceeds from sales of plant assets Dividends paid Cash paid to suppliers and employees Interest paid Income taxes paid WYOMING OUTFITTERS, INC. Statement of Cash Flows For the Year Ended December 31, Current Year Cash flows from operating activities: Net cash flow from operating activities Cash flows from investing activities: Using this information, prepare a statement of cash flows under direct method. (List any deduction in cash and cash outflows as negative amounts.) Cash flows from financing activities: 5,900 4,000 Cash and cash equivalents, January 1,current year Cash and cash equivalents, December 31, current year 37,300 845,000 9,000 49,000 623,000 19,000 63,000
Exercise 13.7 (Algo) Format of a Statement Cash Flows (LO13-2) The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the current year ended December 31. $ 35,800 159, 200 Cash and cash equivalents, Jan. 1 Cash and cash equivalents, Dec. 31 Cash paid to acquire plant assets Proceeds from short-tern borrowing Loans made to borrowers 22,000 10,000 Collections on loans (excluding interest) Interest and dividends received Cash received from customers Proceeds from sales of plant assets Dividends paid Cash paid to suppliers and employees Interest paid Income taxes paid WYOMING OUTFITTERS, INC. Statement of Cash Flows For the Year Ended December 31, Current Year Cash flows from operating activities: Net cash flow from operating activities Cash flows from investing activities: Using this information, prepare a statement of cash flows under direct method. (List any deduction in cash and cash outflows as negative amounts.) Cash flows from financing activities: 5,900 4,000 Cash and cash equivalents, January 1,current year Cash and cash equivalents, December 31, current year 37,300 845,000 9,000 49,000 623,000 19,000 63,000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 14P
Related questions
Question
Please do not give solution in image format thanku
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial Reporting, Financial Statement Analysis…
Finance
ISBN:
9781285190907
Author:
James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning