The following information is available for Windsor, Inc. for the year ended December 31, 2020.

Beginning cash balance $45,720
Accounts payable decrease 3,759
Depreciation expense 164,592
Accounts receivable increase 8,331
Inventory increase 11,176
Net income 288,646
Cash received for sale of land at book value 35,560
Cash dividends paid 12,192
Income taxes payable increase 4,775
Cash used to purchase building 293,624
Cash used to purchase treasury stock 26,416
Cash received from issuing bonds 203,200

Required:
Prepare a statement of cash flows using the indirect method.

Question

10-05-2021
Business

contestada

The following information is available for Windsor, Inc. for the year ended December 31, 2020.

Beginning cash balance $45,720
Accounts payable decrease 3,759
Depreciation expense 164,592
Accounts receivable increase 8,331
Inventory increase 11,176
Net income 288,646
Cash received for sale of land at book value 35,560
Cash dividends paid 12,192
Income taxes payable increase 4,775
Cash used to purchase building 293,624
Cash used to purchase treasury stock 26,416
Cash received from issuing bonds 203,200

Required:
Prepare a statement of cash flows using the indirect method.

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ayokenny2001 ayokenny2001 · Answer 1 · 2021-05-11T02:12:57+02:00

Answer:

See below

Explanation:

Operating activities:

Net income

$288,646

Depreciation

$164,592

Adjusted

$453,238

Change in working capital:

Accounts payable decrease

$3,759

Tax payable

$4,775

Accounts receivable increase

($8,331)

Inventory increase

($11,176)

Total change

($10,973)

* Cash generated from operating activities $442,265

Investing activities;

Proceed from sale of land

$35,560

Purchase of building

($293,624)

Cash used from investing activities

$258,064

Financing activities

Issuance of shares

$203,200

Treasury shares purchase

$26,416

Dividends paid

($12,192)

Cash generated from financing activities

$164,592

Cash generated for the year

$348,793

Beginning cash

$45,720

Ending cash

$394,513