FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Operating Cash Flows: Direct Method
The following are various cash flows and other information for Smyczek Company:
a. Payments of interest, $9,300
b. Receipt from sale of land, $7,900
c. Interest collected, $10,000
d. Payment of dividends, $12,100
e. Depreciation expense, $24,700
f. Collections from customers, $103,600
g. Payments of income taxes, $15,600
h. Receipt from issuance of stock, $18,900
i. Payments to suppliers and employees, $68,500
j. Increase in inventories, $4,600
Required:
Using the direct method, prepare the operating activities section of Smyczek's statement of cash flows.
SMYCZEK COMPANY
Statement of Cash Flows (Partial)
For Year Ended December 31, Current Year
Operating Activities:
Cash Inflows:
Cash Outflows:
24
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