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Required a. Calculate the change in cash and cash equivalents that occurred during 2013. b. Prepare a statement of cash flovws using the indirect method. a. Change in Cash during 2013 s 0 b. Use a negative sign with cash outflow answers. RAINBOW COMPANY Statement of Cash Flows For Year Ended December 31, 2013 Cash Flow from Operating Activities Net Income Add (deduct) items to convert net income to cash basis Depreciation Patent Amortization Loss on Sale of Equipment Gain on Sale of Investments Accounts Receivable Inventory Prepaid Expenses Accounts Payable Interest Payable Income Tax Payable Cash Flow Provided by Operating Activities Cash Flow from Investing Activities Sale of Investments Purchase of Land Improvements to Building Sale of equipment Cash Used by Investing Activities Cash Flow from Financing Activities Issuance of Bonds Payable Issuance of Common Stock Payment of Dividends Cash Provided by Financing Activities NetChange in Cash Cash at Beginning of Year Cash at End of Year O O O olo O o olole ale

Required a. Calculate the change in cash and cash equivalents that occurred during 2013. b. Prepare a statement of cash flovws using the indirect method. a. Change in Cash during 2013 s 0 b. Use a negative sign with cash outflow answers. RAINBOW COMPANY Statement of Cash Flows For Year Ended December 31, 2013 Cash Flow from Operating Activities Net Income Add (deduct) items to convert net income to cash basis Depreciation Patent Amortization Loss on Sale of Equipment Gain on Sale of Investments Accounts Receivable Inventory Prepaid Expenses Accounts Payable Interest Payable Income Tax Payable Cash Flow Provided by Operating Activities Cash Flow from Investing Activities Sale of Investments Purchase of Land Improvements to Building Sale of equipment Cash Used by Investing Activities Cash Flow from Financing Activities Issuance of Bonds Payable Issuance of Common Stock Payment of Dividends Cash Provided by Financing Activities NetChange in Cash Cash at Beginning of Year Cash at End of Year O O O olo O o olole ale

FINANCIAL ACCOUNTING
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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Required a. Calculate the change in cash and cash equivalents that occurred during 2013. b. Prepare a statement of cash flovws using the indirect method. a. Change in Cash during 2013 s 0 b. Use a negative sign with cash outflow answers. RAINBOW COMPANY Statement of Cash Flows For Year Ended December 31, 2013 Cash Flow from Operating Activities Net Income Add (deduct) items to convert net income to cash basis Depreciation Patent Amortization Loss on Sale of Equipment Gain on Sale of Investments Accounts Receivable Inventory Prepaid Expenses Accounts Payable Interest Payable Income Tax Payable Cash Flow Provided by Operating Activities Cash Flow from Investing Activities Sale of Investments Purchase of Land Improvements to Building Sale of equipment Cash Used by Investing Activities Cash Flow from Financing Activities Issuance of Bonds Payable Issuance of Common Stock Payment of Dividends Cash Provided by Financing Activities NetChange in Cash Cash at Beginning of Year Cash at End of Year O O O olo O o olole ale
Transcribed Image Text:Required a. Calculate the change in cash and cash equivalents that occurred during 2013. b. Prepare a statement of cash flovws using the indirect method. a. Change in Cash during 2013 s 0 b. Use a negative sign with cash outflow answers. RAINBOW COMPANY Statement of Cash Flows For Year Ended December 31, 2013 Cash Flow from Operating Activities Net Income Add (deduct) items to convert net income to cash basis Depreciation Patent Amortization Loss on Sale of Equipment Gain on Sale of Investments Accounts Receivable Inventory Prepaid Expenses Accounts Payable Interest Payable Income Tax Payable Cash Flow Provided by Operating Activities Cash Flow from Investing Activities Sale of Investments Purchase of Land Improvements to Building Sale of equipment Cash Used by Investing Activities Cash Flow from Financing Activities Issuance of Bonds Payable Issuance of Common Stock Payment of Dividends Cash Provided by Financing Activities NetChange in Cash Cash at Beginning of Year Cash at End of Year O O O olo O o olole ale
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