158_633905167695837493_Bobcat - 16,500 Increase in Cash...

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Bobcat Bob, Inc. Statement of Cash Flows For the Year Ended December 31, 20x2 Operating Activities Net Income $4,440 Adjustments to Net Income: Add: Depreciation Expense 2,400 Changes in: Increase in Inventory (1,000) Increase in Prepaid Insurance (100) Increase in Accounts Payable 1,000 Increase in Salaries Payable 1,000 Decrease in Taxes Payable (160) Decrease in Insurance Payable (100) 7,480 Investing Activities Purchases of Equipment $(11,500) Payment for Patent (400) Cash Used for Investing Activities (11,900) Financing Activities New Borrowings 15,000 Issuance of Common Stock 1,500 Cash Provided by Financing Activities
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Unformatted text preview: 16,500 Increase in Cash 12,080 Cash Balance, December 31, 20x1 26,800 Cash Balance, December 31, 20x2 $38,880 Supplemental Cash Flow Information Cash payments for income taxes $3,120 Cash payments for interest 300 Noncash investing and financing activities None Supplemental Cash Flow Information: Tax Expense 2,960 + Taxes Payable, Last year 3,120 - Taxes Payable, This year (2,960) = Cash paid for Taxes 3,120 Interest Expense 300 + Interest Payable, Last Year 0 - Interest Payable, This Year 0 = Cash paid for Interest 300...
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This note was uploaded on 09/12/2010 for the course ACCT 101 taught by Professor Drkirch during the Spring '10 term at Ohio University- Athens.

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158_633905167695837493_Bobcat - 16,500 Increase in Cash...

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