FINANCIAL ACCOUNTING
6th Edition
ISBN: 9781618533111
Author: DYCKMAN
Publisher: Cambridge Business Publishers
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Squash Incorporated had net income for 2023 of $382,000. Included on the income statement was a loss on sale of
equipment of $4,900, a gain on sale of investments of $16,300, depreciation of $7,300, loss on retirement of debt of
$10,600, and interest of $3,200. Calculate the net cash provided (used) by operating activities using the indirect method
Assume that the balances of current assets (except cash) and current liabilities remain the same as last year.
Do not enter dollar signs or commas in the input boxes.
Use the negative sign for a decrease in cash.
Net cash provided (used) by operating activities $-385400
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Inserting into the Answer Box, prepare a statement of cash flows for the year ended December 31, 2019, using the Indirect method for Presidio, Co.
Extracts from the 2019 financial records of the Presidio, Co.:
Additional information:
During 2019, the company sold a piece of plant equipment for cash that had originally cost $20,000. The accumulated depreciation associated with the equipment at the time of sale was $10,000. There was no gain or loss on the sale.
A Long-Term Stock Investment with an original cost of $11,000 was sold.
All dividends were paid in cash during the year.
Copy and Paste the Statement template below INTO your Answer Box in order to complete this question in the correct format.
Cash flows from operating activities:
Cash flows from investing activities:
Cash flows from financing activities:
Net increase/<decrease> in cash & cash equivalents
Beginning cash balance, January 1, 2019…
The following information is available for Bernard Corporation for 2019:
Net income
$185,200
Decrease in accounts receivable
8,300
Increase in inventory
19,900
Decrease in prepaid rent
4,410
Increase in salaries payable
7,100
Decrease in income taxes payable
3,870
Increase in notes payable (due 2023)
50,000
Depreciation expense
52,700
Loss on disposal of equipment
6,450
Required:
Compute the net cash flows from operating activities using the indirect method.
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