V Company's records provided the following information for 2019: decrease in accounts payable, $4,500 loss on sale of land, $1,500 increase in inventory, $7,700 increase in income taxes payable, $2,300 net income, $66,300 patent amortization expense, $1,900 ordinary loss, $6,900 decrease in deferred taxes payable, $2,600 amortization of discount on bonds payable, $1,400 payment of cash dividends, $25,000 depletion expense, $5,200 decrease in salaries payable, $1,600 decrease in accounts receivable, $3,100 gain on sale of equipment, $6,000 proceeds from issuance of stock, $55,000 ordinary gain, $3,300 depreciation expense, $12,000 amortization of discount on investment in bonds, $1,000 Required Prepare the operating activities section of V's 2019 statement of cash flows using the indirect method. Use a minus sign to indicate cash outflows or decreases in cash. V COMPANY Statement of Cash Flows (Partial) For Year Ended December 31, 2019 Operating Activities: $fill in the blank 2 Adjustment for noncash income items: fill in the blank 4 fill in the blank 6 fill in the blank 8 fill in the blank 10 fill in the blank 12 fill in the blank 14 fill in the blank 16 fill in the blank 18 fill in the blank 20 fill in the blank 22 Adjustments for cash flow effects from working capital items: fill in the blank 24 fill in the blank 26 fill in the blank 28 fill in the blank 30 fill in the blank 32 $fill in the blank 34

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

Chapter18: Accounting For Income Taxes

Section: Chapter Questions

Problem 9MC: Brooks Company reported a prior period adjustment of 512,000 in pretax financial "income" and...

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V Company's records provided the following information for 2019:

decrease in accounts payable, $4,500
loss on sale of land, $1,500
increase in inventory, $7,700
increase in income taxes payable, $2,300
net income, $66,300
patent amortization expense, $1,900
ordinary loss, $6,900
decrease in deferred taxes payable, $2,600
amortization of discount on bonds payable, $1,400
payment of cash dividends, $25,000
depletion expense, $5,200
decrease in salaries payable, $1,600
decrease in accounts receivable, $3,100
gain on sale of equipment, $6,000
proceeds from issuance of stock, $55,000
ordinary gain, $3,300
depreciation expense, $12,000
amortization of discount on investment in bonds, $1,000

Required

Prepare the operating activities section of V's 2019 statement of cash flows using the indirect method. Use a minus sign to indicate cash outflows or decreases in cash.

V COMPANY
Statement of Cash Flows (Partial)
For Year Ended December 31, 2019
Operating Activities:
	$fill in the blank 2
Adjustment for noncash income items:
	fill in the blank 4
	fill in the blank 6
	fill in the blank 8
	fill in the blank 10
	fill in the blank 12
	fill in the blank 14
	fill in the blank 16
	fill in the blank 18
	fill in the blank 20
	fill in the blank 22
Adjustments for cash flow effects from working capital items:
	fill in the blank 24
	fill in the blank 26
	fill in the blank 28
	fill in the blank 30
	fill in the blank 32
		$fill in the blank 34

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