Week6 - (124,000 26 Acquisition of equipment(55,000 27 Sale...

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HARRISON/HORNGREN, FINANCIAL ACCOUNTING 6E Problem 12-4A Name Mahanaim Peterson Section E A B C D E F G H 5 Part 1. 6 CNA Leasing, Inc. 7 Statement of Cash Flows 8 Year Ended December 31, 20X5 9 10 Cash flows from operating activities: 11 Net income $31,600 12 Adjustments to reconcile net income to 13 net cash provided by operating activities: 14 Depreciation $12,800 15 Amortization 5,000 16 Decrease in accounts receivable (700) 17 Decrease in inventories (1,400) 18 Increase in prepaid expenses 500 19 Increase in accounts payable 3,100 20 Decrease in accrued liabilities (2,500) 21 Decrease in income tax payable (3,300) 13,500 22 Net cash provided by operating activities 45,100 23 24 Cash flows from investing activities: 25 Acquisition of building
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Unformatted text preview: (124,000) 26 Acquisition of equipment (55,000) 27 Sale of long-term investment 6,000 28 Net cash used for investing activities (173,000) 29 30 Cash flows from financing activities: 31 Issuance of common stock 105,600 32 Issuance of long-term notes payable 32,000 33 Payment of cash dividends (17,000) 34 Net cash provided by financing activities 120,600 35 Net decrease in cash (7,300) 36 Cash balance, December 31, 20X4 12,500 37 Cash balance, December 31, 20X5 $5,200 38 Noncash investing and financing activities: 39 Retirement of bonds payable by issuing common stock $55,000 40 41 Part 2. 42 Type answer starting here 43 44 45 46 End of Problem...
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