SondraStark_APT Homework PR16-1A template(2)

SondraStark_APT Homework PR16-1A template(2) - Problem...

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Problem 16-1A Name: Sondra Stark Section: ACC 116-02 Accounting II OAK AND TILE FLOORING CO. Statement of Cash Flows For the Year Ended June 30, 2008 Cash flows from operating activities: Net income $65,900 Adjustments to reconcile net income to net cash flow from operating activities: A Loss on sale of investments (5,000) Depreciation (7,300) Changes in current operating assets and liabilities: Increase in accounts receivable (9,300) D Increase in inventories (4,200) Increase in accounts payable 13,800 Increase in accrued expenses 1,800 Net cash flow from operating activities $55,700 Cash flows from investing activities: Cash received from sale of investments $45,000 Cash paid for purchase of land $145,000 Cash paid for purchase of equipment 39,500 184,500 Net cash flow used for investing activities (139,500) Cash flows from financing activities: Cash received from sale of common stock $56,000 Cash paid for dividends (2,500) Net cash flow provided by financing activities 53,500 Increase in cash $11,200 Cash at the beginning of the year 23,500 Cash at the end of the year $34,700
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OAK AND TILE FLOORING CO. Spreadsheet (Work Sheet) For Statement of Cash Flows For the Year Ended June 30, 2008
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