This preview shows pages 1–3. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: (10-15 min.) E 12-15 O+ a. Net income NIF k. Acquisition of equipment by issuance of note payable F b. Payment of cash dividend F l. Payment of long-term debt I+ c. Sale of long-term I m. Acquisition of building by investment cash payment O+ d. Loss on sale of equipment N n. Accrual of salary expense O+ e. Amortization of intangible I o. Purchase of long-term assets investment F+ f. Issuance of long-term note O+ p. Decrease in merchandise payable to borrow cash inventory O+ g. Depreciation of equipment O q. Increase in prepaid expenses F h. Purchase of treasury stock I+ r. Cash sale of land F+ i. Issuance of common stock O s. Decrease in accrued for cash liabilities O+ j. Increase in accounts payable (10-15 min.) E 12-17 Cash flows from operating activities: Net income. $ 35,000 Adjustments to reconcile net income to net cash used for operating activities: Depreciation.. $ 18,000 Loss on sale of land 5,000 Increase in current assets other than cash (27,000) Decrease in current liabilities......
View Full Document
This note was uploaded on 04/03/2012 for the course ACCT 23020 taught by Professor Dorff,p during the Spring '08 term at Kent State.
- Spring '08