Top Posters
Since Sunday
10
s
5
j
4
s
4
W
3
a
3
H
3
s
3
a
3
o
3
K
3
m
3
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
tweb28 tweb28
wrote...
Go to Answer
Posts: 77
Rep: 0 0
A month ago
The following information was gathered from Burton Company's financial records:

Net income$45,000
Depreciation expense18,000
Beginning cash balance12,000
Increase in accounts receivable6,000
Decrease in inventory8,000
Increase in accounts payable5,000
Decrease in accrued liabilities3,000
Repayment of bank loan15,000
Purchase of equipment26,000

Required:

Using the indirect method, prepare a statement of cash flows for Burton Company.
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
Author:
Read 6 times
1 Reply
Replies
Answer verified by a subject expert
zexman911zexman911
wrote...
#1
Posts: 70
Rep: 0 0
A month ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
Cash flows provided by operating activities​​
Net income​$45,000
Adjustments to net income​​
  Depreciation expense$18,000 ​
  Increase in accounts receivable(6,000)​
  Decrease in inventory8,000 ​
  Increase in accounts payable5,000 ​
  Decrease in accrued liabilities  (3,000)  22,000
Net cash provided by operating activities​$67,000
​​​
Cash flows provided by investing activities​​
  Purchase of equipment​(26,000)
​​​
Cash flows provided by financing activities​​
  Repayment of bank loan (15,000)
​​​
Change in cash​$26,000
Beginning cash balance​  12,000
Ending cash balance​$38,000


1

Related Topics

tweb28 Author
wrote...

A month ago
Thanks for your help!!
hmonier
wrote...

Yesterday
You make an excellent tutor!
Roselalo
wrote...

2 hours ago
Thanks
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  298 People Browsing
 466 Signed Up Today
Start New Topic Take the Tour Study Tips Study ToolsNew Topics Trending Browse by Textbook
Related Images
  
 177
  
 140
  
 67
Your Opinion
What's your favorite coffee beverage?
Votes: 257
Previous poll results: Do you believe in global warming?