Can you please check my work Use the following information of VPI Co, to prepare a statement of cash flows for the year ended December 31 using the indirectmethod. (Amounts to be deducted should be indicated by a minus sign.)Cash balance at prior year-endIncrease in inventoryDepreciation expenseCash received from issuing stockCash paid for dividends$40,4005,4004,4008,4001,400Gain on sale of machineryCash received from sale of machineryIncrease in accounts payable$ 2,1009,7001,70027,0003,400Net incomeDecrease in accounts receivableVPI CO.Statement of Cash Flows (Indirect Method)For Current Year Ended December 31Cash flows from operating activitiesNet income27,000Adjustments to reconcile net income to net cash provided by operating activitiesIncome statement items not affecting cashDepreciation expense4,400Gain on sale of machinery2,100Changes in current operating assets and liabilitiesDecrease in accounts receivable3,400Increase in inventory3,400Increase in accounts payable1,700%24%24

Net Increase in cash : cash flows from (Operating activities + Investing Activities + Financing…

Jse the following information of VPI Co. to prepare a statement of cash flows for the year ended December 31 using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Cash balance at prior year-end Increase in inventory Depreciation expense Cash received from issuing stock Cash paid for dividends $40,400 5,400 4,400 8,400 1,400 Gain on sale of machinery Cash received from sale of machinery Increase in accounts payable Net income Decrease in accounts receivable $ 2,100 9,700 1,700 27,000 3,400 VPI CO. Statement of Cash Flows (Indirect Method) For Current Year Ended December 31 Cash flows from operating activities Net income 2$ 27,000 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense 2$ 4,400 Gain on sale of machinery 2,100 Changes in current operating assets and liabilities Decrease in accounts receivable 3,400 3,400 Increase in inventory Oncrease in accounts pavable 1,700

Jse the following information of VPI Co. to prepare a statement of cash flows for the year ended December 31 using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Cash balance at prior year-end Increase in inventory Depreciation expense Cash received from issuing stock Cash paid for dividends $40,400 5,400 4,400 8,400 1,400 Gain on sale of machinery Cash received from sale of machinery Increase in accounts payable Net income Decrease in accounts receivable $ 2,100 9,700 1,700 27,000 3,400 VPI CO. Statement of Cash Flows (Indirect Method) For Current Year Ended December 31 Cash flows from operating activities Net income 2$ 27,000 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense 2$ 4,400 Gain on sale of machinery 2,100 Changes in current operating assets and liabilities Decrease in accounts receivable 3,400 3,400 Increase in inventory Oncrease in accounts pavable 1,700

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter13: Statement Of Cash Flows

Section: Chapter Questions

Problem 20E

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