The following items involve the cash flow activities of Prizzie Company for 2016: UVI Online ACC 3010 Mid-term Assessment 4 Net Income $162,000 Payment of Dividends $25,000 1,000 shares of stock issued at $20 par $20,000 Amortization Expense on patents $7,000 Plant assets acquired at a cost of $75,000 Accounts Receivable Increase of $9,000 Accounts Payable Decrease of $10,000 Salaries Payable Increase of $6,500 Beginning Cash Balance $18,000 Required: Prepare the statement of cash flows of Prizzie Company for 2016 using the indirect method.
The following items involve the cash flow activities of Prizzie Company for 2016: UVI Online ACC 3010 Mid-term Assessment 4 Net Income $162,000 Payment of Dividends $25,000 1,000 shares of stock issued at $20 par $20,000 Amortization Expense on patents $7,000 Plant assets acquired at a cost of $75,000 Accounts Receivable Increase of $9,000 Accounts Payable Decrease of $10,000 Salaries Payable Increase of $6,500 Beginning Cash Balance $18,000 Required: Prepare the statement of cash flows of Prizzie Company for 2016 using the indirect method.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 12P: Statement of Cash Flows A list of Fischer Companys cash flow activities is presented here: a. Patent...
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The following items involve the cash flow activities of Prizzie Company for 2016:
UVI Online ACC 3010 Mid-term Assessment 4
Net Income $162,000
Payment of Dividends $25,000
1,000 shares of stock issued at $20 par $20,000
Amortization Expense on patents $7,000
Plant assets acquired at a cost of $75,000
Accounts Receivable Increase of $9,000
Accounts Payable Decrease of $10,000
Salaries Payable Increase of $6,500
Beginning Cash Balance $18,000
Required: Prepare the statement of cash flows of Prizzie Company for 2016 using the
indirect method.
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