Direct method The following data are taken from the records of F.Shield Company for the year 2020. Prepare astatement of cash flows then determine the following:a. Net cash flow from operating activitiesb. Net cash flow from investing activitiese. Net cash flow from financing activitiesd. Net increase/decrease in cashe. Cash balance on December 31, 2021Cash balance on January 1, 2020 in P 308, 000Provision for bad debts28, 00Proceeds from sale of land950,000Receivable from customerss00, 000800, 000900, 000Cash purchase of service vehicleAdditional investment of ownerRent income received32, 000Principal long-term loan paid600, 000Cash receipt from customers600, 000Depreciation expense40, 000Payment of operating expenses975, 000Proceeds of BDO loan350, 000Dividends income received23, 000Asset withdrawal of owner125, 000

“Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

The following data are taken from the records of F.Shield Company for the year 2020. Prepare a statement of cash flows then determine the following: a. Net cash flow from operating activities b. Net cash flow from investing activities e. Net cash flow from financing activities d. Net increase/decrease in cash e. Cash balance on December 31, 2021 Cash balance on January 1, 2020 in P 308, 000 Provision for bad debts 28, 000 Proceeds from sale of land 960,000 Receivable trom austomers 600, 000 B00, 000 000, 000 Cash purchase of service vohicie Additional investment of owner Rent income reoeived 32, 000 Principal long term loan paid 600, 000 Cash receipt from customers 000, 000 Depreciation expense 40, 000 Payment of operating expenses 976, 000 Proceeds of BD0 loan 350, 000 Dividends income received 23, 000 Asset withdrawal of owner 125, 000

The following data are taken from the records of F.Shield Company for the year 2020. Prepare a statement of cash flows then determine the following: a. Net cash flow from operating activities b. Net cash flow from investing activities e. Net cash flow from financing activities d. Net increase/decrease in cash e. Cash balance on December 31, 2021 Cash balance on January 1, 2020 in P 308, 000 Provision for bad debts 28, 000 Proceeds from sale of land 960,000 Receivable trom austomers 600, 000 B00, 000 000, 000 Cash purchase of service vohicie Additional investment of owner Rent income reoeived 32, 000 Principal long term loan paid 600, 000 Cash receipt from customers 000, 000 Depreciation expense 40, 000 Payment of operating expenses 976, 000 Proceeds of BD0 loan 350, 000 Dividends income received 23, 000 Asset withdrawal of owner 125, 000

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 32BE

See similar textbooks

Similar questions

Use the following information from Birch Companys balance sheets to determine net cash flows from operating activities (indirect method), assuming net income for 2018 of $122,000.
Use the following excerpts from Indigo Companys balance sheets to determine net cash flows from operating activities (indirect method), assuming net income for 2018 of $225,000.
Preparing a Statement of Cash Flows Volusia Company reported the following comparative balance sheets for 2019: Required: Prepare a statement of cash flows for Volusia using the indirect method to compute net cash flow from operating activities.
The financial statements for Romeo and Company follow. Assume that the additional investment and the withdrawals were in the form of cash. Required Prepare a statement of cash flows for the year ended December 31, 2018. Check Figure Net cash flows from operating activities, 172,000
Determining Cash Flows from Financing Activities Solomon Construction Company reported the following amount on its balance sheet at the end of 2019 and 2018 for notes payable: Required: 1. If Solomon did not repay any notes payable during 2019, determine how much cash Solomon received from the issuance of notes payable. 2. If Solomon repaid $40,000 of notes payable during 2019, determine what amounts Solomon would report in the financing activities section of the statement of cash flows.
Mahoney Company has the following financial statements for 2017 and 2018. Assume that the purchase of equipment and the withdrawals were in the form of cash. Required Prepare a statement of cash flows for the year ended December 31, 2018. Check Figure Net cash flows from operating activities, 76,800
Use the following excerpts from Fromera Companys financial information to prepare the operating section of the statement of cash flows (direct method) for the year 2018.
Use the following excerpts from Unigen Companys financial information to prepare the operating section of the statement of cash flows (indirect method) for the year 2018.
Use the following excerpts from Mountain Companys financial information to prepare a statement of cash flows (indirect method) for the year 2018.
Use the following information from Coconut Companys financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018.
Use the following excerpts from OpenAir Companys financial information to prepare a statement of cash flows (indirect method) for the year 2018.