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Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows (indirect method) for ATM Software Developers. All amounts are in thousands (000s). Cash Flows from Operating Activities Net income Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Net increase (decrease) in cash Cash at the beginning of the period Cash at the end of the period ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the Year Ended December 31, 2024 Listed below in random order are line items to be included in the statement of cash flows. Cash received from the sale of land (no gain or loss) Issuance of common stock Depreciation expense Increase in accounts receivable Decrease in accounts payable Issuance of long-term notes payable Purchase of equipment Decrease in inventery Decrease in prepaid rent Payment of dividends Net income Purchase of treasury stock $ 8,460 12,600 5,370 3,900 1,665 16,020 39,390 1,380 810 6,180 10,500 2,520 $1,485 8,445 $9,930 Required: Prepare the statement of cash flows for ATM Software Developers using the indirect method. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000,000 should be entered as 10,000).)

Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows (indirect method) for ATM Software Developers. All amounts are in thousands (000s). Cash Flows from Operating Activities Net income Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Net increase (decrease) in cash Cash at the beginning of the period Cash at the end of the period ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the Year Ended December 31, 2024 Listed below in random order are line items to be included in the statement of cash flows. Cash received from the sale of land (no gain or loss) Issuance of common stock Depreciation expense Increase in accounts receivable Decrease in accounts payable Issuance of long-term notes payable Purchase of equipment Decrease in inventery Decrease in prepaid rent Payment of dividends Net income Purchase of treasury stock $ 8,460 12,600 5,370 3,900 1,665 16,020 39,390 1,380 810 6,180 10,500 2,520 $1,485 8,445 $9,930 Required: Prepare the statement of cash flows for ATM Software Developers using the indirect method. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000,000 should be entered as 10,000).)

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 49E: Preparing a Statement of Cash Flows-Direct Method The controller of Newstrom Software Inc. provides...
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Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows (indirect method) for ATM Software Developers. All amounts are in thousands (000s). Cash Flows from Operating Activities Net income Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Net increase (decrease) in cash Cash at the beginning of the period Cash at the end of the period ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the Year Ended December 31, 2024 Listed below in random order are line items to be included in the statement of cash flows. Cash received from the sale of land (no gain or loss) Issuance of common stock Depreciation expense Increase in accounts receivable Decrease in accounts payable Issuance of long-term notes payable Purchase of equipment Decrease in inventory Decrease in prepaid rent Payment of dividends Net income Purchase of treasury stock $ 8,460 12,600 5,370 3,900 1,665 16,020 39,390 1,380 810 6,180 10,500 2,520 ATM SOFTWARE DEVELOPERS $1,485 8,445 $9,930 Required: Prepare the statement of cash flows for ATM Software Developers using the indirect method. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000,000 should be entered as 10,000).)
Transcribed Image Text:Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows (indirect method) for ATM Software Developers. All amounts are in thousands (000s). Cash Flows from Operating Activities Net income Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Net increase (decrease) in cash Cash at the beginning of the period Cash at the end of the period ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the Year Ended December 31, 2024 Listed below in random order are line items to be included in the statement of cash flows. Cash received from the sale of land (no gain or loss) Issuance of common stock Depreciation expense Increase in accounts receivable Decrease in accounts payable Issuance of long-term notes payable Purchase of equipment Decrease in inventory Decrease in prepaid rent Payment of dividends Net income Purchase of treasury stock $ 8,460 12,600 5,370 3,900 1,665 16,020 39,390 1,380 810 6,180 10,500 2,520 ATM SOFTWARE DEVELOPERS $1,485 8,445 $9,930 Required: Prepare the statement of cash flows for ATM Software Developers using the indirect method. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000,000 should be entered as 10,000).)
Prepare the statement of cash flows for ATM Software Developers using the indirect method. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000,000 should be entered as 10,000).) ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the Year Ended December 31, 2024 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period $ 0
Transcribed Image Text:Prepare the statement of cash flows for ATM Software Developers using the indirect method. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign. Enter your answers in thousands (i.e., 10,000,000 should be entered as 10,000).) ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the Year Ended December 31, 2024 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period $ 0
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