Comparative balance sheet accounts of Flint Company are presented below. Additional data: Equipment that...

70.2K

Verified Solution

Question

Accounting

Comparative balance sheet accounts of Flint Company are presented below. Additional data:
Equipment that cost $19,000 and was 40% depreciated was sold in 2025.
Cash dividends were declared and paid during the year.
Common stock was issued in exchange for land.
Investments that cost $25,000 were sold during the year.
There were no write-offs of uncollectible accounts during the year. Flint's 2025 income statement is as follows. (a) Compute net cash provided by operating activities under the direct method. (Enter negative amounts using either a negative sign
preceding the number e.g.-45 or parentheses e.g.(45).)
Net cash flow from operating activities $
(b) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or
in parenthesiseg. (15,000).)
FLINT COMPANY
Statement of Cash Flows
For the Year Ended December 31,2025
Cash Flows from Operating Activities
$
Adjustments to reconcile net income to
$
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students