April_Roderick_AC116-02_Unit_9_APT_Project(1) - 1,800 Net...

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Problem 16-1A Name: Section: AC116-02 Enter the appropriate amounts in the shaded cells below. A red asterisk (*) will appear to the right of an incorrect amount in the outlined cells. OAK AND TILE FLOORING CO. Statement of Cash Flows For the Year Ended June 30, 2008 Cash flows from operating activities: Net income $65,900 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation 7,300 Loss on sale of investments 5,000 Changes in current operating assets and liabilities: Increase in accounts receivable (9,300) Increase in inventories (4,200) Increase in accounts payable 5,700 Increase in accrued expenses
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Unformatted text preview: 1,800 Net cash flow from operating activities $72,200 Cash flows from investing activities: Cash received from sale of investments $45,000 Cash paid for purchase of land $145,000 Cash paid for purchase of equipment 39,500 184,500 Net cash flow used for investing activities (139,500) Cash flows from financing activities: Cash received from sale of common stock $126,000 Cash paid for dividends 47,500 Net cash flow provided by financing activities 78,500 Increase in cash $11,200 Cash at the beginning of the year 23,500 Cash at the end of the year $34,700...
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This note was uploaded on 08/05/2008 for the course AC 116 taught by Professor Hill during the Spring '08 term at Kaplan University.

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April_Roderick_AC116-02_Unit_9_APT_Project(1) - 1,800 Net...

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