An asterisk (*) will appear to the right of an incorrect entry.
Cash flows from (used for) operating activities:
Net cash flow from operating activities
Cash flows from (used for) investing activities:
Cash received from sale of investments
Net cash flow used for investing activities
Cash flows from (used for) financing activities:
Cash received from sale of common stock
Net cash flow from financing activities
Net increase (decrease) in cash
Cash balance, January 1, 20Y3
Cash balance, December 31, 20Y3
Schedule Reconciling Net Income with Cash Flows from Operating Activities:
Net income
Adjustments to reconcile net income to net cash flow from operating activities:
Depreciation expense
Gain on sale of investments
Net cash flow from operating activities
Problem 15-5A
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Livers Inc.
Statement of Cash Flows
For the Year Ended December 31, 20Y3
1. Sales
Cash received from customers
2. Cost of goods sold
Cash payments for merchandise
3. Operating expenses other than depreciation
Cash payments for operating expenses
An asterisk (*) will appear to the right of an incorrect entry.
Cash flows from (used for) operating activities:
Cash received from customers 2,950,000$
Net cash flow from operating activities 490,000$
Cash flows from (used for) investing activities:
Cash received from sale of investments 175,000$
Net cash flow used for investing activities (525,000)
Cash flows from (used for) financing activities:
Cash received from sale of common stock 125,000$
Net cash flow from financing activities 40,000
Net increase (decrease) in cash
5,000$
Cash balance, January 1, 20Y3
150,000
Cash balance, December 31, 20Y3
155,000$
Schedule Reconciling Net Income with Cash Flows from Operating Activities:
Net income
500,000$
Adjustments to reconcile net income to net cash flow from operating activities:
Depreciation expense 100,000
Gain on sale of investments (75,000)
Changes in current operating assets and liabilities:
Problem 15-5A
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Solution
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ON
For the Year Ended December 31, 20Y3
Livers Inc.
Statement of Cash Flows
Computations:
1. Sales 3,000,000$
2. Cost of goods sold 1,400,000$
3. Operating expenses other than depreciation 950,000$
4. Cash dividends declared 90,000$