ACC 206 Week 2- P14-25A
Popular in Department
This 0 page Study Guide was uploaded by an elite notetaker on Wednesday November 11, 2015. The Study Guide belongs to fin571 at Kaplan University taught by in Fall 2015. Since its upload, it has received 24 views.
Reviews for ACC 206 Week 2- P14-25A
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 11/11/15
P1425A Johnson Inc ACC206 Principles of Accounting AU P1425A Preparing the statement of cash ows indirect method 3545 min Accountants forJohnson Inc have assembled the following data for the year ended December 31 2012 Requirement 1 Prepare Johnson39s statement of cash ows using the indirect method Include an accompanying schedule of noncash investing and nancing activities 3545 min P 1425A Req 1 Johnson Inc Statement of Cash Flows Year Ended December 31 2012 Cash flows from operating activities Net income 70500 Adjustments to reconcile net income to net cash provided by operating activities Depreciation 25000 Gain on sale of building 5500 4700 Decrease in accounts receivable Increase in inventory 7000 Increase in accounts payable 1700 Decrease in income tax payable JAM 16200 Net cash provided by operating activities 86700 Cash flows from investing activities Acquisition of equipment 75000 Cash receipts from sale of building 58500 Net cash used for investing activities 15500 Cash flows from financing activities Cash receipt from issuance of common stock 40000 Cash receipt from issuance of note payable 67000 Payment of cash dividends 54000 Payment of note payable 48100 Net cash provided by financing activities 4900 Net increase in cash and cash equivalents 75100 Cash and cash equivalents balance December 31 2011 17000 Cash and cash equivalents balance December 31 2012 M INoncash investing and financing activities Acquisition of land by issuing longterm note 122000 payable Total noncash investing and financing activities 122000
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'