04 Jul Module 4 Assignment:
Complete the missing areas of the Statement of Cash Flows for Ma and Pa Grocery as of December 31, 20XX. Additional Information: Depreciation for the year was 10,000. Cash received from the sale of investments was 8000. Cash paid for construction of the building was 42,000. Cash paid for dividends was 4,000. Cash at the beginning of the year was 7,800, and at the end of the year was 61,500. Common stock issued to retire bonds payable was 10,000. Ma and Pa GroceryStatement of Cash Flows-Indirect MethodFor the Year Ended 20XXCash Flows from Operating Activities: Net Income 43,800Reconciliation of net income to net cash flows: Depreciation Patent Amortization 2,400 Changes in Current Assets and Current Liabilities: Decrease in Accounts Receivable 4,000 Increase in Inventory -750 Increase in Prepaid Expenses -430 Decrease in Accounts Payable -1,200 Increase in Accrued Liabilities 380 Decrease in Income Taxes Payable -500 Net Cash Flows Provided by Operating Activities Cash Flows from Investing Activities: Cash received from sale of: Investments (long-term) Land22,000 Less: Cash Paid for construction on building Net Cash Flows Used In Investing Activities Cash Flows from Financing Activities: Cash received from issuing mortgage note payable 12,000 Less: Cash paid for dividends Net Cash Flows Used for Financing Activities Increase in cash Cash at the Beginning of the Year Cash at the End of the Year Schedule of Non-Cash Investing and Financing Activities: Issued common stock to retire bonds payable
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