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(Solution Download) Nathan Herrmann has completed the basic format to be used in preparing the statement of cash flows (


 

 

 

 

 

 

 

Nathan Herrmann has completed the basic format to be used in

 

preparing the statement of cash flows (indirect method) for CEO

 

Consultants.

 

 

  

 

 

 

 

 

 

 

Listed below in random order are

 

line items to be included in the statement of cash flows.

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Purchase of

 

equipment

$ 227,000
  Increase in

 

inventory

27,000
  Increase in prepaid

 

rent

5,500
  Payment of

 

dividends

36,000
  Depreciation

 

expense

10,000
  Increase in accounts

 

receivable

51,000
  Increase in accounts

 

payable

20,000
  Loss on sale of

 

land

10,500
  Net income62,000
  Repayment of notes

 

payable

44,000
  Cash received from

 

the sale of land

5,000
  Issuance of common

 

stock

247,000

 


 

 

 

 

 

 

 

 

Prepare the statement of cash flows for CEO Consultants using

 

the indirect method. (Amounts to be deducted and negative

 

values should be indicated by minus sign. Omit the "$" sign in your

 

response.)

 

 


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