Homework Help is Here – Start Your Trial Now!
Business
Accounting
this is an IFRS cash flow statement, please find all the error inside the statement. thanks

this is an IFRS cash flow statement, please find all the error inside the statement. thanks

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 27BE
See similar textbooks
icon
Related questions
Question

this is an IFRS cash flow statement, please find all the error inside the statement. thanks

 

Woodbridge Incorporated Statement of Cash Flows December 31, 2021 Cash flows from operating activities Net income ADD: Depreciation expense ADD: Loss on disposal of equipment ADD: Decrease in accounts receivable ADD: Decrease in interest receivable ADD: Increase in prepaid insurance DEDUCT: Increase in inventories DEDUCT: Decrease in interest payable DEDUCT: Decrease in income tax payable Dividends paid Net cash provided by operating activities Cash flows from investing activities Interest received Proceeds from disposal of equipment Purchase of new building Net cash used by investing activities Cash flows from financing activities Issuance of common shares Retirement of long-term debts Interest paid Net cash provided by financing activities Net increase in cash $ 85,000 135,000 12,000 30,000 4,000 (45,000) (102,000) (125,000) $ 89,000 710,000 (960,000) $ 200,000 (125,000) (47,000) $ 690,000 (6,000) 684,000 (20,000) 664,000 (161,000) 28,000 $ 531,000
Transcribed Image Text:Woodbridge Incorporated Statement of Cash Flows December 31, 2021 Cash flows from operating activities Net income ADD: Depreciation expense ADD: Loss on disposal of equipment ADD: Decrease in accounts receivable ADD: Decrease in interest receivable ADD: Increase in prepaid insurance DEDUCT: Increase in inventories DEDUCT: Decrease in interest payable DEDUCT: Decrease in income tax payable Dividends paid Net cash provided by operating activities Cash flows from investing activities Interest received Proceeds from disposal of equipment Purchase of new building Net cash used by investing activities Cash flows from financing activities Issuance of common shares Retirement of long-term debts Interest paid Net cash provided by financing activities Net increase in cash $ 85,000 135,000 12,000 30,000 4,000 (45,000) (102,000) (125,000) $ 89,000 710,000 (960,000) $ 200,000 (125,000) (47,000) $ 690,000 (6,000) 684,000 (20,000) 664,000 (161,000) 28,000 $ 531,000
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Balance Sheet Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
Finance
ISBN:
9781285595047
Author:
Weil
Publisher:
Cengage
SEE MORE TEXTBOOKS