Exercise D13-11 Cullumber Industries Statement of Cash Flows Open Show Work Link

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Exercise D13-11

Cullumber Industries
Statement of Cash Flows

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Exercise D13-11

The following items were gathered from Cullumber Industries’ general ledger:
Sale of marketable securities $ 14,180 Depreciation and amortization expense 24,092 Payment of cash dividends 3,183 Proceeds from disposal of equipment 899 Loss on disposal of equipment 220 Net income 26,543 Beginning Cash balance 19,470 Purchase of equipment 21,712 Decrease in Accounts Receivable 1,058 Proceeds from issuing common stock 2,401 Increase in Inventory 3,755 Increase in Accounts Payable 4,490 Ending Cash balance 64,703
Using the indirect method, construct Cullumber Industries’ statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Cullumber Industries
Statement of Cash Flows

Net cash used by financing activitiesCash, beginning balanceAdjustments to net incomeChange in cashCash, ending balanceNet cash provided by operating activitiesNet cash used by operating activitiesNet cash used by investing activitiesNet cash provided by financing activitiesNet cash provided by investing activitiesCash flows from investing activitiesCash flows from operating activitiesCash flows from financing activities

Payment of cash dividendsProceeds from issuance of common stockProceeds from disposal of equipmentDecrease in accounts payableIncrease in accounts receivableIncrease in inventoryDepreciation and amortizationDecrease in inventoryPurchase of equipmetNet income / (loss)Sale of marketable securitiesLoss on disposal of equipmentDecrease in accounts receivableIncrease in accounts payable

$

Adjustments to net incomeCash flows from financing activitiesCash flows from investing activitiesCash, beginning balanceCash, ending balanceCash flows from operating activitiesChange in cash

    Decrease in accounts payable    Loss on disposal of equipment    Payment of cash dividends    Decrease in inventory    Purchase of equipmet    Proceeds from issuance of common stock    Decrease in accounts receivable    Proceeds from disposal of equipment    Increase in inventory    Net income / (loss)    Increase in accounts receivable    Depreciation and amortization    Increase in accounts payable    Sale of marketable securities    

$

    Proceeds from issuance of common stock    Decrease in accounts receivable    Payment of cash dividends    Net income / (loss)    Increase in accounts receivable    Depreciation and amortization    Increase in inventory    Loss on disposal of equipment    Decrease in inventory    Proceeds from disposal of equipment    Increase in accounts payable    Sale of marketable securities    Decrease in accounts payable    Purchase of equipmet    

    Purchase of equipmet    Increase in accounts payable    Decrease in inventory    Decrease in accounts payable    Sale of marketable securities    Proceeds from disposal of equipment    Decrease in accounts receivable    Depreciation and amortization    Net income / (loss)    Payment of cash dividends    Increase in inventory    Increase in accounts receivable    Proceeds from issuance of common stock    Loss on disposal of equipment    

    Decrease in accounts payable    Decrease in inventory    Decrease in accounts receivable    Increase in accounts payable    Increase in accounts receivable    Increase in inventory    Proceeds from issuance of common stock    Sale of marketable securities    Loss on disposal of equipment    Proceeds from disposal of equipment    Purchase of equipmet    Payment of cash dividends    Net income / (loss)    Depreciation and amortization    

    Decrease in inventory    Sale of marketable securities    Depreciation and amortization    Proceeds from issuance of common stock    Increase in accounts receivable    Loss on disposal of equipment    Net income / (loss)    Decrease in accounts receivable    Increase in accounts payable    Increase in inventory    Decrease in accounts payable    Proceeds from disposal of equipment    Purchase of equipmet    Payment of cash dividends    

  Net cash

providedused

by

investingoperatingfinancing

activities

Adjustments to net incomeCash, beginning balanceChange in cashCash, ending balanceCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activities

    Proceeds from issuance of common stock    Loss on disposal of equipment    Increase in accounts receivable    Decrease in accounts receivable    Decrease in inventory    Increase in inventory    Purchase of equipmet    Increase in accounts payable    Proceeds from disposal of equipment    Decrease in accounts payable    Payment of cash dividends    Sale of marketable securities    Net income / (loss)    Depreciation and amortization    

    Increase in accounts receivable    Depreciation and amortization    Loss on disposal of equipment    Proceeds from issuance of common stock    Net income / (loss)    Decrease in accounts receivable    Purchase of equipmet    Increase in inventory    Decrease in accounts payable    Decrease in inventory    Increase in accounts payable    Sale of marketable securities    Proceeds from disposal of equipment    Payment of cash dividends    

    Decrease in accounts receivable    Purchase of equipmet    Proceeds from disposal of equipment    Depreciation and amortization    Net income / (loss)    Increase in accounts receivable    Proceeds from issuance of common stock    Loss on disposal of equipment    Decrease in accounts payable    Increase in inventory    Decrease in inventory    Payment of cash dividends    Increase in accounts payable    Sale of marketable securities    

  Net cash

providedused

by

operatingfinancinginvesting

activities

Cash flows from financing activitiesAdjustments to net incomeChange in cashCash flows from operating activitiesCash, ending balanceCash, beginning balanceCash flows from investing activities

    Proceeds from issuance of common stock    Depreciation and amortization    Proceeds from disposal of equipment    Payment of cash dividends    Increase in accounts receivable    Loss on disposal of equipment    Increase in inventory    Sale of marketable securities    Net income / (loss)    Decrease in accounts receivable    Purchase of equipmet    Decrease in inventory    Increase in accounts payable    Decrease in accounts payable    

    Increase in accounts receivable    Depreciation and amortization    Increase in accounts payable    Decrease in accounts payable    Increase in inventory    Sale of marketable securities    Proceeds from disposal of equipment    Decrease in inventory    Purchase of equipmet    Loss on disposal of equipment    Decrease in accounts receivable    Payment of cash dividends    Proceeds from issuance of common stock    Net income / (loss)    

  Net cash

usedprovided

by

financingoperatinginvesting

activities

Adjustments to net incomeCash, ending balanceCash flows from financing activitiesCash flows from investing activitiesChange in cashCash, beginning balanceCash flows from operating activities

Adjustments to net incomeCash, ending balanceCash, beginning balanceChange in cashCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activities

Cash, ending balanceCash flows from operating activitiesCash flows from financing activitiesChange in cashAdjustments to net incomeCash, beginning balanceCash flows from investing activities

$

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Explanation / Answer

SOLUTION

Cash flow statement

Amount ($) Amount ($) Cash flows from operating activities- Net income 26,543 Add: Depreciation expense 24,092 Loss on sale of disposal of equipment 220 Changes in Current assets and current liabilities-   Decrease in Accounts Receivable 1,058   Increase in Inventory (3,755)   Increase in Accounts Payable 4,490 26,105 Net cash flow from opearting activities (A) 52,648 Cash flows from investing activities- Sale of marketable securities 14,180 Proceeds from disposal of equipment 899 Purchase of equipment (21,712) Net cash used in investing activities (B) (6,633) Cash flows from financing activities Payment of cash dividends (3,183) Proceeds from issuing common stock 2,401 Net cash flows used in financing activities (C) (782) Total (A+B+C) 45,233 Add: Beginning cash balance 19,470 Ending cash balance 64,703

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