View the step-by-step solution to: (Learning Objective 4: Analyzing the statement of cash flows) Identify any weakn...

This question was answered on Dec 07, 2011. View the Answer
(Learning Objective 4: Analyzing the statement of cash flows) Identify any weaknesses revealed by the statement of cash flows of California Fruit Growers, Inc.
writing assignment
California Fruit Growers, Inc. Statement of Cash Flows For the Current Year

Operating activities:
Income from operations $ 61,000
Add (subtract) noncash items:
Depreciation $ 11,000
Net increase in current assets other than cash (52,000)
Net decrease in current liabilities exclusive of short-term debt (19,000) (60,000)
Net cash provided by operating activities 1,000
Investing activities:
Sale of property, plant, and equipment 115,000
Financing activities:
Issuance of bonds payable $ 113,000
Payment of short-term debt (174,000)
Payment of long-term debt (86,000)
Payment of dividends (38,000)
Net cash used for financing activities (185,000)
Increase (decrease) in cash $(69,000)
E13-20A.docx

(Learning Objective 4: Analyzing the statement of cash flows) Identify any weaknesses
revealed by the statement of cash flows of California Fruit Growers, Inc.
writing assignment
California Fruit Growers, Inc. Statement of Cash Flows For the Current Year
Operating activities:
Income from operations

$ 61,000

Add (subtract) noncash items:
Depreciation

$ 11,000

Net increase in current assets other than cash

(52,000)

Net decrease in current liabilities exclusive of short-term debt

(19,000)

Net cash provided by operating activities

(60,000)
1,000

Investing activities:
Sale of property, plant, and equipment

115,000

Financing activities:
Issuance of bonds payable

$ 113,000

Payment of short-term debt

(174,000)

Payment of long-term debt

(86,000)

Payment of dividends

(38,000)

Net cash used for financing activities

(185,000)

Increase (decrease) in cash

$(69,000)

View the entire interaction

Dear Student Please find attached solution of your assignment. Regards View the full answer

Accounting-7733743.doc

ASSIGNMENT CODE: 7733743
(Learning Objective 4: Analyzing the statement of cash flows) Identify any weaknesses
revealed by the statement of cash flows of California Fruit Growers, Inc.
writing...

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors and customizable flashcards—available anywhere, anytime.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access or to earn money with our Marketplace.

    Browse Documents
  • 890,990,898

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
  • 890,990,898

    Flashcards

    Browse existing sets or create your own using our digital flashcard system. A simple yet effective studying tool to help you earn the grade that you want!

    Browse Flashcards