Excel_Student_05-34kh

Excel_Student_05-34kh - 5,900 Increase in wages payable...

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05-34 Name: kathy Haines Enter the appropriate numbers/formulas in the blue-shaded cells. Enter amounts to be deducted as negative numbers. The word "Wrong" will appear to the left of incorrect entries. GOULDING MANUFACTURING COMPANY Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2013 Cash flows from operating activities: Net income $450,700 Adjustments: Depreciation expense 70,000 Intangible assets amortization 10,000 Increase in accounts receivable (19,000) Increase in inventory (18,000) Decrease in accounts payable (23,400) Increase in interest payable
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Unformatted text preview: 5,900 Increase in wages payable 9,500 Net cash provided by operating activities $485,700 Cash flows from investing activities: Purchase of machinery $(62,000) Net cash used in investing activities (62,000) Cash flows from financing activities: Retirement of long-term debt $(500,000) Sale of common stock 160,000 Payment of dividends (22,000) Net cash used in financing activities (362,000) Net increase in cash and cash equivalents $61,700 Cash and cash equivalents at beginning of year 130,000 Cash and cash equivalents at end of year $191,700...
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This note was uploaded on 08/12/2011 for the course ACCT 2201 taught by Professor Alvarez during the Spring '11 term at FIT.

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