Question Details
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 income | 62,000 |
| 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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DATE ANSWEREDDec 08, 2020
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