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Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685

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FindFindarrow_forward

Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685
Chapter 16, Problem 9PB
Textbook Problem
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Use the following excerpts from Unigen Company’s financial information to prepare the operating section of the statement of cash flows (indirect method) for the year 2018.

Chapter 16, Problem 9PB, Use the following excerpts from Unigen Companys financial information to prepare the operating

To determine

Concept introduction:

Cash Flow Statement: It is a statement which tells company about the cash inflow and the outflow of the cash. It is divided into three category first is cash flow from operating activity, second is cash flow from Investing activity and last is financing activity.

To prepare:

Cash flow statement.

Explanation of Solution

Cash flow statement is prepared as follows:

Statement showing cash flow statement    
Particulars Amount Amount
Net Income   145000
Adjustment:    
Add: Loss on sale of assets 11000  
Add: Depreciation 44000 55000
Profit before change in working capital   200000
Less: Accounts Receivable -300  
Add: Inventory 400  
Less: Accounts Payable -2400  
Less: Accrued liability -550 -2850
Operating Cash flow (A)   197150
Cash Flow From Investing Activities:    
Sale of Plant   2200...

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Chapter 16 Solutions

Principles of Accounting Volume 1
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