An asterisk (*) will appear to the right of an incorrect entry.
Cash flows from operating activities:
Cash received from customers
Deduct:
Net cash flow from operating activities
Cash flows from investing activities:
Cash received from sale of investments
Less:
Net cash flow used for investing activities
Cash flows from financing activities:
Cash received from sale of common stock
Less:
Net cash flow provided by financing activities
Increase in cash
Cash at the beginning of the year
Cash at the end of the year
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
Loss on sale of investments
Changes in current operating assets and liabilities:
Net cash flow from operating activities
Computations:
1. Sales
Cash received from customers
2. Cost of merchandise sold
Subtotal
Cash payments for merchandise
3. Operating expenses other than depreciation
Cash payments for operating expenses
Problem 16-5B
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Section:
0%
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MERRICK EQUIPMENT CO.
Statement of Cash Flows
For the Year Ended December 31, 2014
An asterisk (*) will appear to the right of an incorrect entry.
Cash flows from operating activities:
Cash received from customers 2,004,858$
Deduct: (1,242,586)$
For the Year Ended December 31, 2014
MERRICK EQUIPMENT CO.
Statement of Cash Flows
Cash payments for merchandise
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Instructions
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Problem 16-5B
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Solution
Section:
ON
Adjustments to reconcile net income to net cash flow from operating activities:
Deduct increase in accounts receivable
Cash paid for purchase of equipment
Cash paid for dividends
Cash payments for income tax