*Exercise 13-12 (Direct Method) Your answer is partially correct. Try again The

Question

*Exercise 13-12 (Direct Method) Your answer is partially correct. Try again The comparative unclassified statement of financial position for Puffy Ltd. follows: PUFFY LTD Statement of Financial Position December 31 Assets Cash Accounts receivable Merchandise inventory Land Equipment Accumulated depreciation Total assets 2015 2014 $52,080 $20,860 73,480 180,960 186,010 70,240 104,140 264,930 199,100 (66,700 (31,970 $579,090 $551,620 77,580 Liabilities and Shareholders' Equity Accounts payable Bank loan payable Common shares Retained earnings Total liabilities and shareholders' equity $579,090 $39,260 46,400 141,190 197,530 198,400 174,210 200,240 133,480 $551,620

Explanation / Answer

Cash flow Statement: Cash flows from Operating activities: Cash colleected from customers (973270+73480-77580) 969170 Cash payment T suppliers (752360+180960-186010+46400-39260) -754450 For operating expense -43080 For interest -14150 For income tax -24630 -836310 Net cash provided from Operating activities 132860 Cash flows from Investing activities: Disposal of land 38790 Purchase of equipment -65830 Net cash used in investing activities -27040 Cash flows from Financing activities: Repayment of bank loan -56340 Common Shares issued 24190 Payment of cash dividend -42450 Net cash used in financing activities -74600 Net increase in cash 31220 Add: Beginning balance of cash 20860 Ending balance of cash 52080

Related Questions

Navigate

• Browse (All)
• Browse #
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.