Clash flow for 2013 financial statement, Operating activities , BALANCE SHEET- D

Question

Clash flow for 2013 financial statement, Operating activities , BALANCE SHEET- December 31, 2012 and 2013 December 31 2012 2013 ASSETS 27,500 89,900122,700 120,000 | 158,000 2,400 | 2.000 Cash Accounts Receivable 39,250 Prepaid Expenses Total Current Assets Land 65,000 110,000 480,000 00,000) 445,000 517,000 140,000 487,000 Net Fixed Assets TOTAL ASSETS 696,550 797,200 LIABILITTES&OWNERS; EQUITY Accounts Payable Accrued Wages Short Term Bank Loans Total Current Liabilities $ 43,750$ 53,500 2,400 200, 246,150 1,500 I - 215,00 425,000475,000 527,200 797,200 Common Stock Retained Eamings Total Owners' Equity 25,400 450,400 TOTAL LIABILITIES & OWNERS' EQUITY 696,550 S Net Income for the year Depreciation expense for the year Issued 10,000 shares of stock Dividends paid $ 36,800 40,000 $ 50,000 10,000

Explanation / Answer

Cash Flow Statement For the year ended December 31, 2013 Cash flows from operating activities Net Income $   36,800 Adjustment to reconcile net income to: Depreciation expense $   40,000 Increase in accounts receivable $ (32,800) Increase in inventory $ (38,000) Decrease in prepaid expenses $         400 Increase in accounts payable $      9,750 Decrease in accrued wages $       (900) Total adjustments $ (21,550) Net cash provided by operating activities $   15,250 Cash flows from investing activities Purchase of land $ (45,000) Purchase of equipment $ (37,000) Net cash used by investing activities $ (82,000) Cash flows from financing activities Proceeds from issue of stock   $   50,000 Cash from short term bank loan $   15,000 Dividend paid $ (10,000) Net cash provided by financing activities $   55,000 Net increase in cash and cash equivalents $ (11,750) Cash and cash equivalents at beginning of period $   39,250 Cash and cash equivalents at end of period $   27,500

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