Given the information for Callye,Inc., prepare a statement of cash flows (in thousands) Increase in accounts receivable:...
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Finance
Given the information for Callye,Inc., prepare a statement ofcash flows (in thousands)
Increase in accounts receivable: $13 Dividends: $5
Increase in inventories: 25 Change in common stock: 0
Net income: 33 Increase in gross fixed assets: 55
Beginning cash: 15 Depreciation expense: 7
Increase in accounts payable: 20
Increase in accrued expenses: 5
Increase in long-term notes payable: 28
Given the information for Callye,Inc., prepare a statement ofcash flows (in thousands)
Increase in accounts receivable: $13 Dividends: $5
Increase in inventories: 25 Change in common stock: 0
Net income: 33 Increase in gross fixed assets: 55
Beginning cash: 15 Depreciation expense: 7
Increase in accounts payable: 20
Increase in accrued expenses: 5
Increase in long-term notes payable: 28
Answer & Explanation Solved by verified expert
| Cash flow statement using indirect method | ||
| Callye Inc. | ||
| Cash flows statement (Indirect method) | ||
| (in thousands) | ||
| Cash flow from Operating activities | ||
| Net Income | $33.00 | |
| Adjustments : | ||
| Depreciation Expense | $7.00 | |
| Increase in Accounts Receivable | -$13.00 | |
| Increase in Inventory | -$25.00 | |
| Increase in Accounts Payable | $20.00 | |
| Increase in Accrued Expenses | $5.00 | |
| -$6.00 | ||
| Net Cash available from Operating activities | $27.00 | |
| Cash flow from Investing activities | ||
| Increase in gross fixed assets | -$55.00 | |
| Net cash used for Investing activities | -$55.00 | |
| Cash flow from Financing activities | ||
| Increase in long-term notes payable | $28.00 | |
| Dividends | -$5.00 | |
| Net Cash available from Financing activities | $23.00 | |
| Net Cash Surplus (deficit) | -$5.00 | |
| Add : Beginning Cash | $15.00 | |
| Ending Cash balance | $10.00 | |
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Given the information for Callye,Inc., prepare a statement ofcash flows (in thousands)Increase in accounts receivable: $13 Dividends: $5Increase in inventories: 25 Change in common stock: 0Net income: 33 Increase in gross fixed assets: 55Beginning cash: 15 Depreciation expense: 7Increase in accounts payable: 20Increase in accrued expenses: 5Increase in long-term notes payable: 28
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