Business, 25.12.2020 21:50 jpdvolleybal8260

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 $ 229,000Increase in inventory 35,000Increase in prepaid rent 7,500Payment of dividends 31,000Depreciation expense 13,000Increase in accounts receivable 47,000Increase in accounts payable 15,000Loss on sale of land 12,000Net income 69,000Repayment of notes payable 49,000Cash received from the sale of land 7,500Issuance of common stock 241,000Prepare the statement of cash flows for CEO Consultants using the indirect method.

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Answer from: pinkypie123457

Ending cash balance is -$41,000.

Explanation:

This can be prepared as follows:

Nathan Herrmann

Cash Flow Statement

for the year ended ...

Details $ $

Net income 69,000

Adjustment to reconcile net income

Depreciation expense 13,000

Loss on sale of land 12,000

(Increase) decrease in current assets

Increase in inventory (35,000)

Increase in prepaid rent (7,500)

Increase in accounts receivable (47,000)

Increase (decrease) in current liabilities:

Increase in accounts payable 15,000

Net cash from operating activities 19,500

Cash flows from investing activities:

Cash received from the sale of land 7,500

Purchase of equipment (229,000)

Net cash flows from Investing activities (221,500)

Cash flows from financing activities:

Payment of dividends (31,000)

Repayment of notes payable (49,000)

Issuance of common stock 241,000

Net cash from financing activities 161,000

Increase / (Decrease) in cash (41,000)

Beginning cash balance -

Ending cash balance (41,000)

Answer from: Quest

The answer is yes it's correct they have to guarantee that job back when they come back

Answer from: Quest

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