Ac 311 HW 1

Ac 311 HW 1 - Dividends paid 21000 Pay off income tax...

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AC 311 2-3:45 Cash Flows from Operating Activities Net Income $117,000 Adjustments to reconcile net income to net cash from operating activities: +Depn expense 5,000 -Loss on sale (1,500) Increase in accounts receivable (53,500) Increase in inventory (152,000) Increase in accounts payable 1,000 Decrease in premium on bonds payable (1,000) Decrease in prepaid expenses 1,000 Cash provided by Operating Activities ($84,000) Cash Flows from Investing Activities Sold equipment 4000 Bought land (49,500) Bought equipment (53,000) Net Cash from Investing Activities (98,500) Cash Flows from Financing Activities
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Unformatted text preview: Dividends paid 21000 Pay off income tax payable (13,000) Common stock sold 10,000 Net Cash from Financing Activities 24,000 Net decrease in cash ($7,000) Cash balance 1/1/02 66,000 Cash balance 12/31/02 59,000 Cash Flows from Operating Activities Cash Inflows: Cash received from customers $476,500 Cash Outflows: Cash paid for purchases (446,400) Cash paid for operating expenses (53,100) Cash paid for interest (9,000) Cash paid for taxes (52,000) Net cash provided by Operating Activities ($84,000)...
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This note was uploaded on 07/06/2008 for the course AC 311 taught by Professor Dueger during the Spring '08 term at Alabama.

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Ac 311 HW 1 - Dividends paid 21000 Pay off income tax...

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