BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

Solutions

Chapter
Section
BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
18 views

Erroneous Statement of Cash Flows Andell Company’s 2019 statement of cash flows, as developed by its bookkeeper, is shown here:

Chapter 21, Problem 8E, Erroneous Statement of Cash Flows Andell Companys 2019 statement of cash flows, as developed by its , example  1

Chapter 21, Problem 8E, Erroneous Statement of Cash Flows Andell Companys 2019 statement of cash flows, as developed by its , example  2

You determine that the amounts of the items listed on the statement are correct, but in certain circumstances, incorrectly classified.

Required:

Next Level Prepare a corrected 2019 statement of cash flows for Andell.

To determine

Prepare corrected statement of cash flow of A Company for the year 2019.

Explanation

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.

Operating Activities: Operating activities include cash inflows and outflows from business operations.

Prepare corrected statement of cash flow of A Company for the year 2019:

A Company
Statement of cash flow for the year ended December 31, 2019
ParticularsAmount($)Amount($)
Operating Activities:  
Net income10,600 
Adjustment for non-cash income items:  
Add: Depreciation expenses4,800 
Less: gain on sale of equipment(700) 
Adjustments for cash flow effects from working capital i...

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Additional Business Solutions

Find more solutions based on key concepts

Show solutions add

Name three types of temporary accounts.

College Accounting, Chapters 1-27

How might a firms corporate WACC be affected by the size of its capital budget?

Fundamentals of Financial Management (MindTap Course List)

REACHING A FINANCIAL GOAL Erika and Kitty, who are twins, just received 30,000 each for their 25th birthday. Th...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

An employees total earnings is called gross pay.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

Give three examples of important trade-offs that you face in your life.

Principles of Macroeconomics (MindTap Course List)