FINANCIAL ACCOUNTING
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Transcribed Image Text:View Policies
Current Attempt in Progress
The following information is available for Ivanhoe Company for the year ended December 31, 2022.
Beginning cash balance
Accounts payable decrease
Depreciation expense
Accounts receivable increase
Inventory increase
Net income
Cash received for sale of land at book value
Cash dividends paid
Income taxes payable increase
Cash used to purchase building
Cash used to purchase treasury stock
Cash received from issuing bonds
Cash Flows from Operating Activities
Net Income
$78,750
Adjustments to reconcile net income to
6,475
Net Cash Provided by Operating Activities
283,500
14,350
19,250
497,175
61,250
21,000
Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15
parenthesis e.g. (15,000).)
8,225
505,750
45,500
Ivanhoe Company
Statement of Cash Flows-Indirect Method
For the Year Ended December 31, 2022
350,000
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Income taxes payable increase
Cash used to purchase building.
Cash used to purchase treasury stock
Cash received from issuing bonds
Cash Flows from Operating Activities
Net Income
Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15.000 or in
parenthesis e.g. (15,000))
Adjustments to reconcile net income to
Net Cash Provided by Operating Activities
Depreciation Expense
Decrease in Accounts Payable
Increase in Accounts Receivable
Increase in Inventory
Increase in Income Taxes Payable
Cash Flows from Operating Activities
Net Cash Provided by Investing Activities
Purchase of Building
Sale of Land
Cash Flows from Financing Activities
Cash Flows from Financing Activities
Payment of Dividend
Purchase of Treasury Stock
Ivanhoe Company
Statement of Cash Flows-Indirect Method
For the Year Ended December 31, 2022
V
Issuance of Bonds
Net Increase in Cash
Cash at Beginning of Period
Cash at End of Period
Net Cash Provided by Financing Activities
eTextbook and Medial
V
V
V
8,225
505,750
45,500
350,000
V
$
$
M
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