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B88101 B88101
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A month ago
The following information was gathered from Brandon Corporation's financial records:

Net income$65,000
Depreciation expense12,000
Beginning cash balance22,000
Decrease in accounts receivable12,000
Increase in inventory8,000
Decrease in accounts payable6,000
Decrease in accrued liabilities2,000
Proceeds from bank loan25,000
Payment of dividends to stockholders16,000
Purchase of land35,000

Required:

Using the indirect method, prepare a statement of cash flows for Brandon Corporation. Omit the statement heading.
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
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neginakbarinneginakbarin
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More solutions for this book are available here
Cash flows provided by operating activities​​
Net income​$65,000
Adjustments to net income​​
  Depreciation expense$12,000 ​
  Decrease in accounts receivable12,000 ​
  Increase in inventory(8,000)​
  Decrease in accounts payable(6,000)​
  Decrease in accrued liabilities  (2,000)    8,000
Net cash provided by operating activities​$73,000
​​​
Cash flows provided by investing activities​​
  Purchase of land​(35,000)
​​​
Cash flows provided by financing activities​​
  Payment of dividends to stockholders(16,000)​
  Proceeds from bank loan25,000 9,000
​​​
Change in cash​$47,000
Beginning cash balance​  22,000
Ending cash balance​$69,000


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B88101 Author
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A month ago
This helped my grade so much Perfect
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You make an excellent tutor!
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Good timing, thanks!
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