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Concept explainers
Introduction: Cash flow statement provides information about the
Cash flow from operating activities includes cash effects of transactions that determine net income.
Cash flow from investing activities includes procuring and recovering loan amount, acquisition and disposal of property, plant and equipment and investments.
Cash flow from financing activities includes cash effects of transactions which involve owner’s equity and liabilities.
To determine the net cash provided (used) by operating activities, investing activities, and financing activities.
Given Information: The
Comparative Balance sheet as on December 31 |
2017 ($) |
2016 ($) |
Cash |
30,000 |
35,000 |
Accounts receivable (net) |
55,000 |
45,000 |
Inventory |
65,000 |
45,000 |
Prepaid expenses |
15,000 |
25,000 |
Equipment |
90,000 |
75,000 |
(18,000) |
(8,000) |
|
Land |
70,000 |
40,000 |
Total Assets |
307,000 |
257,000 |
|
|
|
Accounts payable |
65,000 |
52,000 |
Accrued expenses |
15,000 |
18,000 |
Notes payable—bank, long-term |
0 |
23,000 |
Bonds payable |
30,000 |
0 |
Common stock $10 par |
189,000 |
159,000 |
8,000 |
5,000 |
|
Total Liabilities and Stockholders’ Equity |
307,000 |
257,000 |
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Chapter 23 Solutions
ACP INTERMEDIATE ACCOUNTING VOL. 1 >C
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
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