hw 9.4) During the fiscal year ended March 31, 2009, Fins & Feathers Pet Company

ID: 2530512 • Letter: H

Question

hw 9.4)

During the fiscal year ended March 31, 2009, Fins & Feathers Pet Company engaged in the following transactions i (Click the icon to view the transactions.) Using the relevant transactions, prepare the cash from operating activities section of the statement of cash flows using the direct method. Fins and Feathers Pet Company More Info Statement of Cash Flows For the Year Ended March 31, 2009 a. Collected $120.000 on accounts receivable b. Paid interest of S4,800 c. Made cash sales of $220,000 d. Paid salaries of $41,000 e. Paid income taxes of $13,000 f. Recorded amortization expense of $31,000 g. Sold vehicle for cash of $11.500 h. Made payments to vendors of $86,200 i. Issued bonds for $380,000 j. Purchased new vehicle for cash of $40,000 k. Purchased land for cash of S360,000 L. Paid operating expenses of $30,300 Cash from operating activities Net cash provided by operating activities

Explanation / Answer

Answer

Cash from Operating Activities:

Collection from Accounts receivables

$ 1,20,000.00

Cash Sales

$ 2,20,000.00

Paid Salaries

$ (41,000.00)

Paid Income taxes

$ (13,000.00)

Payment to vendor

$ (86,200.00)

Paid operating expense

$ (30,300.00)

Net Cash provided by operating activities

$ 1,69,500.00