E23-11 - Pat Metheny Company STATEMENT OF CASH FLOWS -...

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Pat Metheny Company STATEMENT OF CASH FLOWS - Indirect Method For the year ended Dec 31, 2008 Cash flows from operating activities Net income $810 Adjustments to reconcile NI to net cash provided by operating activities: Depreciation expense ($1,200 – $1,170) $30 Gain on sale of investments -80 Decrease in inventory 300 Increase in accounts payable 300 Increase in receivables -450 Decrease in accrued liabilities -50 Net cash provided by operating activities $860 Cash flows from investing activities Sale of held-to-maturity investments 200 [($1,420 – $1,300) + $80] Purchase of plant assets [($1,900 – $1,700) – $70] -130 Net cash provided by investing activities 70 Cash flows from financing activities Issuance of capital stock [($1,900 – $1,700) – $70] 130 Retirement of bonds payable -150 Payment of cash dividends -260 Net cash used by financing activities -280 Net increase in cash 650 Cash, January 1, 2008 1,150 Cash, December 31, 2008 $1,800 Noncash investing and financing activities Issuance of common stock for plant assets $70
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This note was uploaded on 09/20/2008 for the course ACC 363 taught by Professor Rossi during the Spring '08 term at University of Phoenix.

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E23-11 - Pat Metheny Company STATEMENT OF CASH FLOWS -...

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