WapelhorstCACC502-M5-a

WapelhorstCACC502-M5 - Name Section Date(a C Wapelhorst ACC 502 11.17.10 Chapter 12 Continuing Cookie Chronicle Cookie Coffee Creations Inc

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1 Name C. Wapelhorst Chapter 12 Continuing Cookie Chron Section ACC 502 Date 11.17.10 Cookie & Coffee Creations (a) Indirect Method Statement of Cash Flows For the Year Ended October 31, 20012 1 Cash flows from operating activities 2 Net Income 41002 3 Adjustments to reconcile net income to net cash 4 provided by operating activites: 5 6 Add: Depreciation Expense 17600 7 Add: Loss on sale of computer equipment 2500 8 Less: Decrease in Accounts Payable -1300 9 Less: Decrease in Accounts Receivable -540 10 Less: Increase in Inventory -447 11 Add: Decrease in Prepaid Expenses 250 12 Add: Increase in Income Tax Payable 10251 13 Add: Increase in Salaries Payable 970 14 Add: Increase in Interest Payable 188 29472 15 16 Net Cash Flows from Operating Activities 70474 17 18 Cash flows from investing activities 19 Sale of computer equipment 500 20 Purchase of new computer equipment -4000 21 Purchase of additional kitchen equipment -14000 22 Purchase of additional furniture
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This note was uploaded on 11/28/2010 for the course ACC ACC502 taught by Professor Foote during the Spring '10 term at Grand Canyon.

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WapelhorstCACC502-M5 - Name Section Date(a C Wapelhorst ACC 502 11.17.10 Chapter 12 Continuing Cookie Chronicle Cookie Coffee Creations Inc

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