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  • ACCT212 WorkingPapers E1-23A

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    ACCT212_WorkingPapers_E1-23A, Learning Objective 4: Preparing a statement of cash flows, Lucky, Inc., began 2010 with $87,000 in cash. During 2010, Lucky earned net income of $410,000, and adjustments to reconcile net income to net cash provided by operations totaled $70,000, a positive amount. Investing activities used cash of $420,000, and financing activities provided cash of $72,000. Lucky ended 2010 with total assets of $260,000 and total liabilities of $115,000. Prepare Lucky, Inc.’s statement of cash flows for the year ended December 31, 2010. Identify the data items given that do not appear on the statement of cash flows. Also identify the financial statement that reports the unused items.

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    ACCT212_WorkingPapers_E1-23A, Learning Objective 4: Preparing a statement of cash flows, Lucky, Inc., began 2010 with $87,000 in cash. During 2010, Lucky earned net income of $410,000, and adjustments to reconcile net income to net cash provided by operations totaled $70,000, a positive amount. Investing activities used cash of $420,000, and financing activities provided cash of $72,000. Lucky ended 2010 with total assets of $260,000 and total liabilities of $115,000. Prepare Lucky, Inc.’s statement of cash flows for the year ended December 31, 2010. Identify the data items given that do not appear on the statement of cash flows. Also identify the financial statement that reports the unused items.

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    Attribution Non-Commercial (BY-NC)
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    30 vues1 page

    ACCT212 WorkingPapers E1-23A

    Transféré par

    lowluder
    ACCT212_WorkingPapers_E1-23A, Learning Objective 4: Preparing a statement of cash flows, Lucky, Inc., began 2010 with $87,000 in cash. During 2010, Lucky earned net income of $410,000, and adjustments to reconcile net income to net cash provided by operations totaled $70,000, a positive amount. Investing activities used cash of $420,000, and financing activities provided cash of $72,000. Lucky ended 2010 with total assets of $260,000 and total liabilities of $115,000. Prepare Lucky, Inc.’s statement of cash flows for the year ended December 31, 2010. Identify the data items given that do not appear on the statement of cash flows. Also identify the financial statement that reports the unused items.

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    Attribution Non-Commercial (BY-NC)
    Téléchargez comme XLSX, PDF, TXT ou lisez en ligne sur Scribd
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    sur 1

    FINANCIAL ACCOUNTING - Eighth Edition E 1-23A (15-20 min.

    ) Learning Objective 4: Preparing a statement of cash flows

    Solutions Manual

    Lucky, Inc., began 2010 with $87,000 in cash. During 2010, Lucky earned net income of $410,000, and adjustments to reconcile net income to net cash provided by operations totaled $70,000, a positive amount. Investing activities used cash of $420,000, and financing activities provided cash of $72,000. Lucky ended 2010 with total assets of $260,000 and total liabilities of $115,000. 1. Prepare Lucky, Inc.s statement of cash flows for the year ended December 31, 2010. Identify the data items given that do not appear on the statement of cash flows. Also identify the financial statement that reports the unused items.

    Solution: Lucky, Inc. Statement of Cash Flows Year Ended December 31, 2010

    Chapter 1: The Financial Statements

    Page 1 of 1

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