Exercise 14(13)-17
Instructions
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a.
Net income
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation
Loss on inventory write down and fixed assets
Changes in current operating assets and liabilities:
Net cash flow from operating activities
Net cash flow provided by investing activities
Net cash flow provided by financing activities
Cash at the beginning of the year
Cash at the end of the year
b.
Cash flows from financing activities:
Increase in cash
[Key essay answer here]
Cash flows from investing activities:
Name:
Section:
For the Year Ended December 31, 2014
Cash flows from operating activities:
Score:
Key Code:
0%
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WEDGE INDUSTRIES INC.
Statement of Cash Flows
Exercise 14(13)-17
Instructions
Answers are entered in the cells with gray backgrounds.
a.
Net income 260$
Adjustments to reconcile net income to net cash
flow from operating activities:
Name:
Section:
Solution
An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
Score:
WEDGE INDUSTRIES INC.
Statement of Cash Flows
For the Year Ended December 31, 2014
Cash flows from operating activities:
ON
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Increase in cash
Cash flows from investing activities:
Cash received from sale of land
Gain on sale of land
Cash received from sale of common stock
Less cash paid for dividends
Less cash paid for purchase of equipment
Cash flows from financing activities: