B-16.10 Problem

B-16.10 Problem - $415,000 Bought building by issuing...

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B-16.10 i 7 000 The accountant for Rimmerex Corporation used a spreadsheet to prepare information needed to prepare the statement of cash flows for the year ending December 31, 20X5. However, the data were accidentally sorted alphabetically into the following listing of items. To compound the problem, the "add" and "subtract" notations for each line item were also deleted. Review the information, and prepare a correct presentation, using the indirect approach. The beginning cash balance was $63,800, and the ending cash balance was
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Unformatted text preview: $415,000. Bought building by issuing common stock 850,000 $ Decrease in accounts payable 34,000 Decrease in accounts receivable 21,000 Depreciation expense 68,000 Dividends on common 50,000 Gain on sale of land 20,000 I i t bl Increase in ncome taxes payable , Increase in inventory 27,800 Increase in prepaid insurance 3,000 Net income 215,000 Purchase of equipment 75,000 Repayment of long-term note payable 180,000 Sale of land 430,000...
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