The Following Data: 1. Bravo-Zulu Company had a net income of $1,225,000. 2. Accounts receivable...
Question:
The Following Data:
1. Bravo-Zulu Company had a net income of $1,225,000.
2. Accounts receivable decreased by $25,000.
3. Accounts payable decreased by $40,000.
4. Depreciation was $500,000.
5. Purchases of plant assets were for $1,250,000 cash and sold plant assets for $500,000 cash, which resulted in a $50,000 gain.
6. Stock was issued in exchange for an outstanding note payable of $725,000. Dividends of $300,000 were paid to shareholders.
7. Cash balance on Dec 31, 2015, was $250,000, and cash balance on Dec 31, 2016, was $860,000.
Make a statement of cash flows for the year ending December 31, 2016.
Statement of Cash Flows:
The statement of cash flows is part of financial statements issued by companies. It shows the movement of cash and cash equivalents during the period.
Answer and Explanation: 1
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View this answerStatement of cash flows for the year ending December 21, 2016
| Amount | |
|---|---|
| Operating Activities | |
| Net Income | $1,225... |
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