Business, 28.05.2020 01:58, shoreelinee1337

The following information is available for Blossom Company for the year ended December 31, 2020. Beginning cash balance $ 47,610 Accounts payable decrease 3,915 Depreciation expense 171,396 Accounts receivable increase 8,676 Inventory increase 11,638 Net income 300,578 Cash received for sale of land at book value 37,030 Cash dividends paid 12,696 Income taxes payable increase 4,973 Cash used to purchase building 305,762 Cash used to purchase treasury stock 27,508 Cash received from issuing bonds 211,600 Prepare a statement of cash flows using the indirect method

Answers: 2

Show answers

Answers

answered: ehhshsh

Blossom Company Statement of Cash Flows

December 31, 2020

Cash flow from operating activities

Net income $300,578

Adjustments to reconcile net income: $159,970

Depreciation expense $171,396- Accounts receivable increase ($8,676) - Inventory increase ($11,638) Accounts payable decrease $3,915 Income taxes payable increase 4,973

Net cash provided from operating activities $460,548

Cash flow from investing activities

Sale of land at book value $37,030

- Purchase of building ($305,762)

Net cash flow from investing activities ($268,732)

Cash flow from financing activities

Issuance of bonds $211,600

- Purchase of treasury stock ($27,508)

- Dividends paid ($12,696)

Net cash flow from financing activities $171,396

Net increase in cash during the year $363,212

Beginning cash balance $47,610

Cash balance at December 31, 2020 $410,822

answered: Guest

They can use the north star to estimate their location in the ocean.

answered: Guest

definitely a

Other questions on the subject: Business

Business, 22.06.2019 01:30, AbyssAndre

Can you post a video on of the question that you need on

Answers: 2

continue

Business, 22.06.2019 06:40, haleyturkey

Depreciation on the company's equipment for 2017 is computed to be $18,000.the prepaid insurance account had a $6,000 debit balance at december 31, 2017, before adjusting for the costs of any expired coverage. an analysis of the company's insurance policies showed that $1,100 of unexpired insurance coverage remains. the office supplies account had a $700 debit balance on december 31, 2016; and $3,480 of office supplies were purchased during the year. the december 31, 2017, physical count showed $300 of supplies available. two-thirds of the work related to $15,000 of cash received in advance was performed this period. the prepaid insurance account had a $6,800 debit balance at december 31, 2017, before adjusting for the costs of any expired coverage. an analysis of insurance policies showed that $5,800 of coverage had expired. wage expenses of $3,200 have been incurred but are not paid as of december 31, 2017.

Answers: 3

continue

Business, 22.06.2019 11:40, antbanks3050

Jamie is saving for a trip to europe. she has an existing savings account that earns 3 percent annual interest and has a current balance of $4,200. jamie doesn’t want to use her current savings for vacation, so she decides to borrow the $1,600 she needs for travel expenses. she will repay the loan in exactly one year. the annual interest rate is 6 percent. a. if jamie were to withdraw the $1,600 from her savings account to finance the trip, how much interest would she forgo? .b. if jamie borrows the $1,600 how much will she pay in interest? c. how much does the trip cost her if she borrows rather than dip into her savings?

Answers: 1

continue

Business, 22.06.2019 16:30, emmmssss21

Bernard made a gift of $500,000 to his brother in 2014. due to bernard’s prior taxable gifts he paid $200,000 of gift tax. when bernard died in 2019, the applicable gift tax credit had increased. at bernard’s death, what amount related to the $500,000 gift to his brother is included in his gross estate?

Answers: 3

continue

Do you know the correct answer?

The following information is available for Blossom Company for the year ended December 31, 2020. Beg...