Cash flows for atm software developers using the indirect

Assignment Help Accounting Basics

Reference no: EM13308729

Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows (indirect method) for ATM Software Developers. All amounts are in thousands (000s).
ATM SOFTWARE DEVELOPERS
Statement of Cash Flows
For the year ended December 31, 2015
Cash Flows from Operating Activities
Net income .......................................................... $
Adjustments to reconcile net income to net cash
flows from operating activities:
Net cash flows from operating activities ........................ _____
Cash Flows from Investing Activities
Net cash flows from investing activities ........................ _____
Cash Flows from Financing Activities
Net cash flows from financing activities ....................... _____
Net increase (decrease) in cash .................................. $ 3,765
Cash at the beginning of the period ............................ 7,510
Cash at the end of the period ................................... $11,275
Listed below in random order are line items to be included in the statement of cash flows.
Cash received from the sale of land .................................... $ 8,650
Issuance of common stock .............................................. 13,075
Depreciation expense ................................................... 5,465
Increase in accounts receivable ........................................ 4,090
Decrease in accounts payable .......................................... 1,760
Issuance of long-term notes payable ................................. 16,495
Purchase of equipment ................................................. 39,865
Decrease in inventory .................................................. 1,475
Decrease in prepaid rent ............................................... 905
Payment of dividends ................................................. 6,370
Net income .............................................................. 12,400
Purchase of treasury stock ............................................ 2,615

Required:
Prepare the statement of cash flows for ATM Software Developers using the indirect method.

Reference no: EM13308729

Questions Cloud

Briefly explaining the changes within each major cash flow : Prepare a statement of cash flows for 2013, using the indirect method. Assume that current assets (excluding cash) and current liabilities have remained the same on December 31, 2013. The cash balance on December 31, 2013 is $66,050. 2.Draft ..

General fund and governmental activities general journals. : Amber City borrowed $1,000,000 secured by a 5-year mortgage note. The cash from the note was used to purchase a building for vehicle and equipment maintenance. Show how these two transactions should be recorded in the General Fund and governmen..

Lowest risk of loss for the organization explain : Which payment plan has the lowest risk of loss for the organization? Explain

Defined benefit pension plan balances : Defined benefit pension plan balances

Cash flows for atm software developers using the indirect : Prepare the statement of cash flows for ATM Software Developers using the indirect method.

Use of spreadsheets in accounting information system : Find an article on the use of spreadsheets in Accounting Information System

Prepare general journal entries to record the transactions : Prepare general journal entries to record the transactions and events for the reporting period ended 30 June 2013 (narrations are not required).

Albany trading operates in a very competitive field : Albany Trading operates in a very competitive field. To maintain its market position, it purchased two new machines for cash on 1 January 2011. It had previously rented its machines.

Calculate the molarity of the tartaric acid solution : Calculate the molarity of the tartaric acid solution

User Account

All Pages