SondraStark_APT Homework PR16-1A template(2)

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

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
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: Loss on sale of investments (5,000) Depreciation (7,300) Changes in current operating assets and liabilities: Increase in accounts receivable (9,300) 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
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 4

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

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online