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    Enter The Appropriate Amounts in The Shaded Cells in Columns E and G

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    Elsa Mendoza
    This document provides a statement of cash flows for Boswell Manufacturing Company for the year ended December 31, 2002. It shows net income of $320,800 and adjustments to net income to calculate net cash provided by operating activities of $413,100. It also shows that $48,000 was used for investing activities to purchase machinery, and $318,000 was used for financing activities including retiring long-term debt, issuing common stock, and paying dividends. The net increase in cash and cash equivalents was $47,100.

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    Enter The Appropriate Amounts in The Shaded Cells in Columns E and G

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    Elsa Mendoza
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    This document provides a statement of cash flows for Boswell Manufacturing Company for the year ended December 31, 2002. It shows net income of $320,800 and adjustments to net income to calculate net cash provided by operating activities of $413,100. It also shows that $48,000 was used for investing activities to purchase machinery, and $318,000 was used for financing activities including retiring long-term debt, issuing common stock, and paying dividends. The net increase in cash and cash equivalents was $47,100.

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    This document provides a statement of cash flows for Boswell Manufacturing Company for the year ended December 31, 2002. It shows net income of $320,800 and adjustments to net income to calculate net cash provided by operating activities of $413,100. It also shows that $48,000 was used for investing activities to purchase machinery, and $318,000 was used for financing activities including retiring long-term debt, issuing common stock, and paying dividends. The net increase in cash and cash equivalents was $47,100.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xls, pdf, or txt
    4 views1 page

    Enter The Appropriate Amounts in The Shaded Cells in Columns E and G

    Uploaded by

    Elsa Mendoza
    This document provides a statement of cash flows for Boswell Manufacturing Company for the year ended December 31, 2002. It shows net income of $320,800 and adjustments to net income to calculate net cash provided by operating activities of $413,100. It also shows that $48,000 was used for investing activities to purchase machinery, and $318,000 was used for financing activities including retiring long-term debt, issuing common stock, and paying dividends. The net increase in cash and cash equivalents was $47,100.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
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    5-21

    Name: SOLUTION Enter the appropriate amounts in the shaded cells in columns E and G. Boswell Manufacturing Company Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2002 Cash flows from operating activities: Net income $ 320,800 Adjustments: Depreciation expense 60,000 Goodwill amortization 30,000 Increase in accounts receivable (13,000) Increase in inventory (30,000) Decrease in accounts payable (34,800) Increase in interest payable 8,100 Increase in wages payable 72,000 Net cash provided by operating activities Cash flows from investing activities: Purchase of machinery Net cash used in investing activities Cash flows from financing activities: Retirement of long-term debt Sale of common stock Payment of dividends Net cash used in financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year

    $ 413,100

    $ (48,000) (48,000)

    $ (450,000) 150,000 (18,000) (318,000) $ 47,100 140,000 $ 187,100

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