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
Decrease 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
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CANACE PRODUCTS INC.
Statement of Cash Flows
For the Year Ended December 31, 2014
0%
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Score:
Key Code:
Instructions
Problem 16-4A
Name:
Section:
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 operating activities:
Cash received from customers 5,960,600$
Deduct: (2,456,800)$
Computations:
1. Sales 5,980,000$
19,400
Cash received from customers 5,960,600$
Deduct increase in accounts receivable
For the Year Ended December 31, 2014
CANACE PRODUCTS INC.
Statement of Cash Flows
Cash payments for merchandise
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Score:
Instructions
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Problem 16-4A
Name:
Solution
Section:
ON
Cash flows from investing activities:
Cash at the beginning of the year
Net income
Adjustments to reconcile net income to net cash flow from operating activities:
Increase in accounts payable
Decrease in accrued expenses payable
Increase in accounts receivable
Increase in inventories
Cash payments for operating expenses
Cash payments for income taxes
Cash paid for purchase of land