(1) Use this information to prepare a complete statement of cash flows for year
ID: 2525314 • Letter: #
Question
(1) Use this information to prepare a complete statement of cash flows for year 2013. direct method. Balance, Dec. 31, 2012........... 333 Payments for note payable............. 386 Payments for dividends ........... 500 Payments for treasury stock ..........218 Receipts from customers........... 5,000 Receipts from dividends .............. 208 Receipts from land sale ............. 220 Receipts from machinery sale it. 710 Receipts from issuing stock ........ 1,540 Receipts from borrowing ............ 3,600 Payments for merchandise 2,590 Payments for wages.com..... 550 Payments for rent.............. ... 320 Payments for interest ........... . 218 Payments for taxes................ 450 Payments for machinery.c............. Payments for long-term investments ..ic.1,260 FITNE THOMAS CORPORATION Statement of Cash Flows For Year Ended December 31, 2013 Cash flows from operating activities Net cash provided by operating activities............. Cash flows from investing activities Net cash used in investing activities ... Cash flows from financing activities Net cash provided by financing activities ..... Net Increase (decrease) in cash ....... Beginning balance of cash ......... .. Ending balance of cash........... A. What is the ending cash balance at December 31, 2013? B. Which section - Operating, Investing, or Financing shows the largest cash inflow? C. Which item is the largest cash outflow for Investing Activities? D. Does the company have a net cash inflow or outflow for Operating activities?Explanation / Answer
A. $2,883
B. Financing Activities with an inflow of $4,036
C. Payment for long term investment has the largest cash out flow for investing activities.
D. It has an inflow of cash.
THOMAS CORPORATION Statement of Cash Flow For Year Ended December 31,2013 Cash flow operating activities Receipts from customers 5000 Payments for merchandise (2590) Payments for wages (550) Payments for rent (320) Payments for taxes (450) Payments for interest (218) Receipts from dividends 208 Net Cash provided by operating activities 1080 Cash flow Investing activities Receipts from machinery sale 710 Receipts from land sale 220 Payments for machinery (2236) Payments for long-term investments (1260) Net Cash used in investing activities (2566) Cash flow Financing activities Payments for note payable (386) Payments for dividends (500) Payments for treasury stock (218) Receipts from borrowing 3600 Receipts from issuing stock 1540 Net Cash provided by Financing activities 4036 Net Increase (Decrease) in cash 2550 Beginning balance of cash 333 Ending balance of cash 2883Related Questions
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