Please answer with full work with everything 11Use the following data to prepare a statement of cash flows for the year ended December 31 using the indirect method.Cash balance at prior year-end$ 8,000300Increase in wages payableDepreciation expense800400Gain on sale of equipmentNet incomeCash received from issuing stockCash received from sale of equipmentCash paid for dividendsIncrease in prepaid expenses-Decrease in accounts receivableCash flows from operating activitiesNet incomeAdjustments to reconcile net income to net cash provided by operating activitiesIncome statement items not affecting cashChanges in current operating assets and liabilitiesCash flows from investing activities4,6001,6001,9002001,000600Statement of Cash Flows (Indirect Method)For Current Year Ended December 31Cash flows from financing activities

Lets understand the basics Statement of cash flows: It is a financial statement that shows the…

Use the following data to prepare a statement of cash flows for the year ended December 31 using the indirect method. $ 8,000 Cash balance at prior year-end Increase in wages payable Depreciation expense 300 800 Gain on sale of equipment Net income 400 Cash received from issuing stock Cash received from sale of equipment Cash paid for dividends Increase in prepaid expenses Decrease in accounts receivable : 4,600 1,600 1,900 200 1,000 600

Use the following data to prepare a statement of cash flows for the year ended December 31 using the indirect method. $ 8,000 Cash balance at prior year-end Increase in wages payable Depreciation expense 300 800 Gain on sale of equipment Net income 400 Cash received from issuing stock Cash received from sale of equipment Cash paid for dividends Increase in prepaid expenses Decrease in accounts receivable : 4,600 1,600 1,900 200 1,000 600

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 15E

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COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Powell Companys condensed income statement for the year ended December 31, 20-2, was as follows: Additional information obtained from Powells comparative balance sheet and auxiliary records as of December 31, 20-2 and 20-1, was as follows: Depreciation expense for 20-2, included in operating expenses on the income statement, was 29,000. REQUIRED Prepare a partial statement of cash flows reporting cash provided by operating activities for the year ended December 31, 20-2.
COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Horn Companys condensed income statement for the year ended December 31, 20-2, was as follows: Additional information obtained from Horns comparative balance sheet and auxiliary records as of December 31, 20-2 and 20-1, was as follows: Depreciation expense for 20-2, included in operating expenses on the income statement, was 32,000. REQUIRED Prepare a partial statement of cash flows reporting cash provided by operating activities for the year ended December 31, 20-2. SCHEDULE FOR CALCULATION OF CASH GENERATED FROM OPERATING ACTIVITIES Using the information provided in Problem 23-9A for Horn Company, prepare the following: 1. A schedule for the calculation of cash generated from operating activities for Horn Company for the year ended December 31, 20-2. 2. A partial statement of cash flows for Horn Company reporting cash from operating activities under the direct method for the year ended December 31, 20-2.
COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Horn Companys condensed income statement for the year ended December 31, 20-2, was as follows: Additional information obtained from Horns comparative balance sheet and auxiliary records as of December 31, 20-2 and 20-1, was as follows: Depreciation expense for 20-2, included in operating expenses on the income statement, was 32,000. REQUIRED Prepare a partial statement of cash flows reporting cash provided by operating activities for the year ended December 31, 20-2.
COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Powell Companys condensed income statement for the year ended December 31, 20-2, was as follows: Additional information obtained from Horns comparative balance sheet and auxiliary records as of December 31, 20-2 and 20-1, was as follows: Depreciation expense for 20-2, included in operating expenses on the income statement, was 32,000. REQUIRED Prepare a partial statement of cash flows reporting cash provided by operating activities for the year ended December 31, 20-2. SCHEDULE FOR CALCULATION OF CASH GENERATED FROM OPERATING ACTIVITIES Using the information provided in Problem 23-11B for Powell Company, prepare the following: 1. A schedule for the calculation of cash generated from operating activities for Powell Company for the year ended December 31, 20-2. 2. A partial statement of cash flows for Powell Company reporting cash from operating activities under the direct method for the year ended December 31, 20-2.