Details of this Paper

1 Accounting Question - Need in 1 Hour

Description

solution


Question

Brief Exercise 23-5 Bloom Corporation had the following 2014 income statement.;Sales revenue $200,000;Cost of goods sold 120,000;Gross profit 80,000;Operating expenses (includes depreciation of $21,000) 50,000;Net income $30,000;The following accounts increased during 2014: Accounts Receivable $12,000, Inventory $11,000, Accounts Payable $13,000. Prepare the cash flows from operating activities section of Bloom?s 2014 statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).);Bloom Corporation;Statement of Cash Flows-Indirect Method (Partial);For the Year 2014;Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash;Increase in InventoryIncrease in Accounts PayableDecrease in Accounts PayableNet IncomeCash Payment to SuppliersIncrease in Accounts ReceivableDecrease in InventoryCash Received from CustomersCash Payment for Operating ExpensesDecrease in Accounts ReceivableDepreciation expense $;Adjustments to reconcile net income to;Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash;Increase in Accounts Receivable Cash Payment to Suppliers Increase in Accounts Payable Depreciation expense Decrease in Accounts Receivable Decrease in Accounts Payable Cash Received from Customers Increase in Inventory Cash Payment for Operating Expenses Decrease in Inventory Net Income $;Increase in Accounts Payable Decrease in Accounts Payable Net Income Increase in Accounts Receivable Cash Received from Customers Cash Payment to Suppliers Decrease in Accounts Receivable Increase in Inventory Decrease in Inventory Cash Payment for Operating Expenses Depreciation expense;Increase in Accounts Receivable Decrease in Accounts Payable Decrease in Accounts Receivable Cash Payment for Operating Expenses Depreciation expense Net Income Cash Payment to Suppliers Increase in Accounts Payable Increase in Inventory Cash Received from Customers Decrease in Inventory;Decrease in Accounts Receivable Cash Received from Customers Increase in Accounts Receivable Increase in Inventory Cash Payment to Suppliers Cash Payment for Operating Expenses Decrease in Inventory Depreciation expense Increase in Accounts Payable Decrease in Accounts Payable Net Income;Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash $;Click if you would like to Show Work for this question: Open Show Work

 

Paper#78602 | Written in 18-Jul-2015

Price : $22
SiteLock