ACC 537 - Week 5 Solutions

ACC 537 - Week 5 Solutions - EXERCISE 12-7 (a) TAGUCHI...

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Unformatted text preview: EXERCISE 12-7 (a) TAGUCHI COMPANY Statement of Cash Flows For the Year Ended December 31, 2007 Cash flows from operating activities Net income.................................................. $103,000 ) Adjustments to reconcile net income to net cash provided by operating activities Depreciation expense........................ $34,000 ) Increase in accounts receivable....... (9,000) Decrease in inventory........................ 19,000 ) Decrease in accounts payable.......... (8,000 ) 36,000 ) Net cash provided by operating activities........................................... 139,000 ) Cash flows from investing activities Sale of land................................................. 25,000 ) Purchase of equipment............................. (60,000 ) Net cash used by investing activities........................................... (35,000 ) Cash flows from financing activities Issuance of common stock....................... 42,000 ) Redemption of bonds................................ (50,000) Payment of cash dividends....................... (45,000 ) Net cash used by financing activities........................................... (53,000 ...................................................... ) Net increase in cash.............................................
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This note was uploaded on 07/01/2009 for the course ACC 537 taught by Professor Matais during the Spring '08 term at University of Phoenix.

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ACC 537 - Week 5 Solutions - EXERCISE 12-7 (a) TAGUCHI...

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