16-2B_22e - For the Year Ended December 31, 2008 Cash flows...

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Problem 16-2B Name: Section: 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. AIR GLIDE ATHLETIC APPAREL CO. Statement of Cash Flows For the Year Ended December 31, 2008 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from investing activities: Net cash flow used for investing activities Cash flows from financing activities: Net cash flow provided by financing activities Decrease in cash Cash at the beginning of the year Cash at the end of the year
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Problem 16-2B Name: SOLUTION Section: 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. AIR GLIDE ATHLETIC APPAREL CO. Statement of Cash Flows
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Unformatted text preview: For the Year Ended December 31, 2008 Cash flows from operating activities: Net income $81,300 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation 26,100 Changes in current operating assets and liabilities: Decrease in accounts receivable 5,400 Increase in merchandise inventory (7,000) Increase in prepaid expenses (1,200) Increase in accounts payable 3,900 Net cash flow from operating activities $108,500 Cash flows from investing activities: Cash paid for equipment $50,900 Net cash flow used for investing activities (50,900) Cash flows from financing activities: Cash received from sale of common stock $85,000 Cash paid for dividends 48,000 Cash paid to retire mortgage note payable 105,000 153,000 Net cash flow provided by financing activities (68,000) Decrease in cash $(10,400) Cash at the beginning of the year 56,200 Cash at the end of the year $45,800...
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16-2B_22e - For the Year Ended December 31, 2008 Cash flows...

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