Week3-Ch5HWproblems

Week3-Ch5HWproblems - 5-29 Tapwater Company Statement of...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

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

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

Unformatted text preview: 5-29 Tapwater Company Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2013 Cash flows from operating activities: Net income $35,500 Adjustments: Depreciation expense 7,000 Increase in accounts receivable (2,150) Increase in inventory (4,500) Decrease in accounts payable (2,500) Decrease in Prepaid Insurance (1,050) Other Current Liabilities 2,000 Net cash provided by operating activities Page 1 $34,300 5-30 SCHEDULE OF NET CASH Sales Cost of goods manufactured and sold Depreciation expense Selling, general and administration expenses Income taxes expense Other expenses Net income Page 2 Income Statement $7,200,000 (3,500,000) (2,300,000) (500,000) $900,000 5-30 Adjustments (420,000) (110,000) 700,000 3,000 54,000 36,000 Statement of Cash Flows $6,780,000 3,170,000 700,000 (2,297,000) (446,000) 36,000 $1,163,000 Page 3 ...
View Full Document

This note was uploaded on 08/12/2011 for the course ACCT 2201 taught by Professor Alvarez during the Spring '11 term at FIT.

Page1 / 3

Week3-Ch5HWproblems - 5-29 Tapwater Company Statement of...

This preview shows document pages 1 - 3. Sign up to view the full document.

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