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Use the following data to prepare a statement of cash flows for the year ended December 31 using the indirect method. $ 10,000 Cash balance at prior year-end Increase in wages payable Depreciation expense 500 1,000 600 Gain on sale of equipment Net income 6,600 3,600 Cash received from issuing stock Cash received from sale of equipment Cash paid for dividends 3,900 400 3,000 800 Increase in prepaid expenses Decrease in accounts receivable

Use the following data to prepare a statement of cash flows for the year ended December 31 using the indirect method. $ 10,000 Cash balance at prior year-end Increase in wages payable Depreciation expense 500 1,000 600 Gain on sale of equipment Net income 6,600 3,600 Cash received from issuing stock Cash received from sale of equipment Cash paid for dividends 3,900 400 3,000 800 Increase in prepaid expenses Decrease in accounts receivable

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 19E
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Use the following data to prepare a statement of cash flows for the year ended December 31 using the indirect method. Cash balance at prior year-end Increase in wages payable Depreciation expense Gain on sale of equipment Net income Cash received from issuing stock Cash received from sale of equipment Cash paid for dividends Increase in prepaid expenses Decrease in accounts receivable $ 10,000 500 1,000 600 6,600 3,600 3,900 400 3,000 800
Transcribed Image Text:Use the following data to prepare a statement of cash flows for the year ended December 31 using the indirect method. Cash balance at prior year-end Increase in wages payable Depreciation expense Gain on sale of equipment Net income Cash received from issuing stock Cash received from sale of equipment Cash paid for dividends Increase in prepaid expenses Decrease in accounts receivable $ 10,000 500 1,000 600 6,600 3,600 3,900 400 3,000 800
Statement of Cash Flows (Indirect Method) For Current Year Ended December 31 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities Cash flows from investing activities Cash flows from financing activities
Transcribed Image Text:Statement of Cash Flows (Indirect Method) For Current Year Ended December 31 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities Cash flows from investing activities Cash flows from financing activities
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