Chapter 16 - CHAPTER 16 Solutions to Exercises Exercise...

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CHAPTER 16 Solutions to Exercises Exercise 16-9 Part 1 GECKO, INC. Statement of Cash Flows (Indirect Method) For Year Ended June 30, 2005 Cash flows from operating activities Net income. ........................................................ $ 86,760 Adjustments to reconcile net income to net cash provided by operating activities Increase in accounts receivable. ..................... (18,000) Decrease in merchandise inventory. ............... 30,000 Increase in prepaid expenses. ......................... (200) Decrease in accounts payable. ........................ (6,000) Decrease in wages payable (9,000) Decrease in income taxes payables. ............... (1,200) Depreciation expense. ...................................... 58,600 Gain on sale of plant assets. ............................ (2,000 ) Net cash provided by operating activities. ..... $138,960 Cash flows from investing activities Cash received from sale of equip. (Note 1). .... 10,000 Cash paid for equipment (Note 1). ...................
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This note was uploaded on 06/29/2008 for the course ACCT 220 taught by Professor William during the Spring '08 term at University of Findlay.

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Chapter 16 - CHAPTER 16 Solutions to Exercises Exercise...

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