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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 11
Preparing the direct method statement of cash flows
Jelly Bean, Inc., began 2012 with cash of $53,000. During the year Jelly Bean earned revenue of $597,000 and collected $621,000 from customers. Expenses for the year totaled $437,000, of which Jelly Bean paid $427,000 in cash to suppliers and employees. Jelly Bean also paid $145,000 to purchase equipment and a cash dividend of $54,000 to its stockholders during 2012.
Requirement
1. Prepare the company's statement of cash flows for the year ended December 31, 2012. Format operating activities by the direct method.
Jelly Bean, Inc., began 2012 with cash of $53,000. During the year Jelly Bean earned revenue of $597,000 and collected $621,000 from customers. Expenses for the year totaled $437,000, of which Jelly Bean paid $427,000 in cash to suppliers and employees. Jelly Bean also paid $145,000 to purchase equipment and a cash dividend of $54,000 to its stockholders during 2012.
Requirement
1. Prepare the company's statement of cash flows for the year ended December 31, 2012. Format operating activities by the direct method.
Explanation
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Verified
Statement of cash flows:
• Direct metho...
Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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