Prepare Statement of Cash FlowsData:Operating Activities:Net Income: $50,000Depreciation: $10,000Increase in Accounts Receivable: $5,000Investing Activities:Purchase of...
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Accounting
Prepare Statement of Cash Flows
Data:
- Operating Activities:
- Net Income: $50,000
- Depreciation: $10,000
- Increase in Accounts Receivable: $5,000
- Investing Activities:
- Purchase of Equipment: $20,000
- Financing Activities:
- Issuance of Stock: $30,000
Requirements:
- Prepare the statement of cash flows for the year ended December 31, 2023.
- Categorize cash flows into operating, investing, and financing activities.
- Discuss the company’s cash position and liquidity.
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