Exercise 12-5 The following information is available for Splish Brothers Inc. for the year ended December...

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Accounting

Exercise 12-5 The following information is available for SplishBrothers Inc. for the year ended December 31, 2017. Beginning cashbalance $ 47,835 Accounts payable decrease 3,933 Depreciationexpense 172,206 Accounts receivable increase 8,717 Inventoryincrease 11,693 Net income 301,998 Cash received for sale of landat book value 37,205 Cash dividends paid 12,756 Income taxespayable increase 4,996 Cash used to purchase building 307,207 Cashused to purchase treasury stock 27,638 Cash received from issuingbonds 212,600 Prepare a statement of cash flows using the indirectmethod. (Show amounts that decrease cash flow with either a - signe.g. -15,000 or in parenthesis e.g. (15,000).) Splish Brothers Inc.Statement of Cash Flows—Indirect Method $ Adjustments to reconcilenet income to $ $

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4.1 Ratings (457 Votes)

Particulars	Amount
Net Profit as per profit and loss account	301,998

Add: Adjustments
Depreciation expense	172,206

Add: Decrease in current assets/ Increase in current liabilities
Income taxes payable increase	4,996

Less: Decrease in current liabilities/ Increase in current assets
Accounts payable decrease	(3,933)
Accounts receivable increase	(8,717)
Inventory increase	(11,693)

Net cash flow from opearting activities	454,857

Cash flow from investing activities
Cash received for sale of land	37,205
Cash used to purchase building	(307,207)

Net cash flow from investing activities	(270,002)

Cash flow from financing activities
Cash used to purchase treasury stock	(27,638)
Cash received from issuing bonds	212,600
Cash dividend paid	(12,756)

Net cash flow from financing activities	172,206

Net change in cash and cash equivalents	357,061
Add: Beginning cash balance	47,835
Ending cash balance	404,896

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Exercise 12-5 The following information is available for SplishBrothers Inc. for the year ended December 31, 2017. Beginning cashbalance $ 47,835 Accounts payable decrease 3,933 Depreciationexpense 172,206 Accounts receivable increase 8,717 Inventoryincrease 11,693 Net income 301,998 Cash received for sale of landat book value 37,205 Cash dividends paid 12,756 Income taxespayable increase 4,996 Cash used to purchase building 307,207 Cashused to purchase treasury stock 27,638 Cash received from issuingbonds 212,600 Prepare a statement of cash flows using the indirectmethod. (Show amounts that decrease cash flow with either a - signe.g. -15,000 or in parenthesis e.g. (15,000).) Splish Brothers Inc.Statement of Cash Flows—Indirect Method $ Adjustments to reconcilenet income to $ $