- Problem 11 4a Algo Prepare A Statement Of Cash Flows Indirect Method Lo11 2 11 3 11 4 11 5 The Income Statement 1 (20.9 KiB) Viewed 37 times
- Problem 11 4a Algo Prepare A Statement Of Cash Flows Indirect Method Lo11 2 11 3 11 4 11 5 The Income Statement 2 (36.67 KiB) Viewed 37 times
- Problem 11 4a Algo Prepare A Statement Of Cash Flows Indirect Method Lo11 2 11 3 11 4 11 5 The Income Statement 3 (49.77 KiB) Viewed 37 times
- Problem 11 4a Algo Prepare A Statement Of Cash Flows Indirect Method Lo11 2 11 3 11 4 11 5 The Income Statement 4 (53.19 KiB) Viewed 37 times
Assets Current assets: Cash Accounts receivable. Inventory Prepaid rent Long-term assets: Investments Land Equipment Accumulated depreciation VIDEO PHONES, INCORPORATED Balance Sheets December 31 Total assets Liabilities and Stockholders' Equity. Current liabilities: Accounts payable Interest payable. Income tax payable. Long-term liabilities: Notes payable Stockholders equity: Common stock Retained earnings Total liabilities and stockholders' equity 2024 $152,320 72,200 105,000 8,880 97,000 202,000 254,000 (59,400) $832,000 $ 58,800 5,200 14,200 269,000 220,000 264,800 $832,000 2023 $77,560 52,000 127,000 4,440 0 224,000 202,000 (40,400) $646,600 $ 73,000 8,400 13,200 217,000 220,000 115,000 $646,600 Additional Information for 2024: 1. Purchased investment in bonds for $97,000. 2. Sold land for $14,800. The land originally was purchased for $22.000, resulting in a $7,200 loss being recorded at the time of the sale. 3. Purchased $52,000 in equipment by issuing a $52.000 long-term note payable to the seller. No cash was exchanged in the transaction. 4. Declared and paid a cash dividend of $21,000.
Required: Prepare the statement of cash flows using the indirect method. Disclose any noncash transactions in an accompanying note. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign.) Cash Flows from Operating Activities VIDEO PHONES, INCORPORATED Statement of Cash Flows For the Year Ended December 31, 2024 Adjustments to reconcile net income to net cash flows from operating activities. Net cash flows from operating activities: Cash Flows from Investing Activities Net cash flows from investing activities
ces Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Cash at the beginning of the period Cash at the end of the period Note: Noncash Activities