Statement of Cash Flows—Indirect Method
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:
|Dec. 31, 20Y9||Dec. 31, 20Y8|
|Accounts receivable (net)||100,060||92,390|
|Liabilities and Stockholders' Equity|
|Accrued expenses payable||18,760||23,550|
|Common stock, $10 par||56,290||44,380|
|Paid-in capital: Excess of issue price over par-common stock||211,600||123,190|
|Total liabilities and stockholders’ equity||$1,042,340||$905,790|
Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.
|Merrick Equipment Co.|
|Statement of Cash Flows|
|For the Year Ended December 31, 20Y9|
|Cash flows from operating activities:|
|Adjustments to reconcile net income to net cash flow from operating activities:|
|Changes in current operating assets and liabilities:|
|Net cash flow from operating activities||$|
|Cash flows from (used for) investing activities:|
|Cash from sale of investments||$|
|Net cash flow used for investing activities|
|Cash flows from (used for) financing activities:|
|Net cash flow from financing activities|
|Cash at the beginning of the year|
Cash Flow Statement:
Cash flow statement is the financial statement that measures the cash generated or used by a company in a given period. It breaks out a company’s cash sources and uses for the period into three categories:
Following is the cash flow statem...
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