Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required. *There is actually 23 rows in the Statement of Cash Flows, I just couldn't fit them all in the screenshot. Row 22 & 23 areCash balance, January 1, 20Y3 Cash balance, December 31, 20Y3 Statement of Cash Flows(X)1Cash flows from (used for) operating activities:23Adjustments to reconcile net income to net cash flows from operating activities:45Changes in current operating assets and liabilities:789101112 Cash flows from (used for) investing activities:1314151617 Cash flows from (used for) financing activities:1819 1Dec. 31, 20Y3Dec. 31, 20Y22Assets3 Cash$625,080.00$586,430.004 Accounts receivable (net)228,260.00209,470.005 Inventories641,070.00616,400.006 Investments0.00240,170.007 Land327,640.000.008 Equipment705,000.00552,830.009 Accumulated depreciation-equipment(165,670.00)(148,610.00)Total assets$2,361,380.00$2,056,690.001011Liabilities and Stockholders' Equity12 Accounts payable$425,090.00$405,900.0013 Accrued expenses payable43,140.0052,460.0014 Dividends payable23,780.0019,970.0015 Common stock, $4 par147,000.0096,000.0016 Excess of paid-in capital over par417,200.00279,600.0017 Retained earnings1,305,170.001,202,760.00Total liabilities and stockholders' equity$2,361,380.00$2,056,690.0018

Cash flows statement is a financial statement which shows all cash inflows and cash outflows of the…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required.

*There is actually 23 rows in the Statement of Cash Flows, I just couldn't fit them all in the screenshot. Row 22 & 23 are

Cash balance, January 1, 20Y3

Cash balance, December 31, 20Y3

Statement of Cash Flows
(X)
1
Cash flows from (used for) operating activities:
2
3
Adjustments to reconcile net income to net cash flows from operating activities:
4
5
Changes in current operating assets and liabilities:
7
8
9
10
11
12 Cash flows from (used for) investing activities:
13
14
15
16
17 Cash flows from (used for) financing activities:
18
19

1
Dec. 31, 20Y3
Dec. 31, 20Y2
2
Assets
3 Cash
$625,080.00
$586,430.00
4 Accounts receivable (net)
228,260.00
209,470.00
5 Inventories
641,070.00
616,400.00
6 Investments
0.00
240,170.00
7 Land
327,640.00
0.00
8 Equipment
705,000.00
552,830.00
9 Accumulated depreciation-equipment
(165,670.00)
(148,610.00)
Total assets
$2,361,380.00
$2,056,690.00
10
11
Liabilities and Stockholders' Equity
12 Accounts payable
$425,090.00
$405,900.00
13 Accrued expenses payable
43,140.00
52,460.00
14 Dividends payable
23,780.00
19,970.00
15 Common stock, $4 par
147,000.00
96,000.00
16 Excess of paid-in capital over par
417,200.00
279,600.00
17 Retained earnings
1,305,170.00
1,202,760.00
Total liabilities and stockholders' equity
$2,361,380.00
$2,056,690.00
18

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