How do determine net cash flows from operating activities

Assignment Help Financial Accounting

Reference no: EM132636353

The accounting staff of Wyoming Outfitters, Inc., has assembled the following information for the year ended December 31, 2011:

Cash and cash equivalents, Jan. 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 35,800

Cash and cash equivalents, Dec. 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74,800

Cash paid to acquire plant assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,000

Proceeds from short-term borrowing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000

Loans made to borrowers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,000

Collections on loans (excluding interest) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,000

Interest and dividends received . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,000

Cash received from customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 795,000

Proceeds from sales of plant assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,000

Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55,000

Cash paid to suppliers and employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 635,000

Interest paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,000

Income taxes paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71,000

Question 1: Using this information, prepare statement of cash flows. Include a proper heading for the financial statement, and classify the given information into the categories of operating activities, investing activities, and financing activities. Determine net cash flows from operating activities by the direct method. Place brackets around the dollar amounts of all cash disbursements.

Reference no: EM132636353

Questions Cloud

Identify the measurement methods of property : Identify the measurement methods of Property, Plant, and Equipment (PPE) that are adopted by BFC (Beston Global Food Company).

Why the aggregate demand curve slopes downward : Discuss the reasons why the aggregate demand (AD) curve slopes downward. What causes the AD curve and aggregate supply (AS) curve to shift, respectively?

How stephanie calamba is the owner of the calamba : How Stephanie Calamba is the owner of the Calamba Repairs Specialist. On January 1, 2020, the assets, liabilities and proprietor's capital of the business

Summarize the story of plato allegory of the cave : What is an allegory AND what lesson do YOU think Plato meant to teach? Is this lesson still relevant and Why?

How do determine net cash flows from operating activities : How do Determine net cash flows from operating activities by the direct method. Place brackets around the dollar amounts of all cash disbursements.

Major sociological perspectives of fundamentalism : Explain the similarities and differences extensively between the three major sociological perspectives of fundamentalism

Provide a theoretical analysis of the concept : Provide a theoretical analysis of the concept and process of accounting and accountability as it relates to a non-profit organization (NGO) in Fiji.

What is clash of cultures in the new world : The clash of cultures in the New Worldhow it relates to Social Work what is Clash of cultures in the new world?

Describe the financial strategy and financia goals : Specific type of order (market order, limit order, stop-loss order, short sale) that as an investor you would mostly use to trade financial securities.

User Account

All Pages