Total inflows of cash Assignment | College Homework Help

Erroneous Statement of Cash Flows Andell Company’s 2019 statement of cash flows, as developed by its bookkeeper, is shown here: $10,600 4,400 4,300 (6,000) (5,000) $8,300 Cash Flows Statement December 31, 2019 Inflows of Cash Operating Activities Net income Add: Proceeds from sale of equipment Proceeds from issuance of stock Less: Payment for investment in bonds Payment of long-term note Net cash inflows from operations Other Inflows Decrease in accounts receivable $2,100 Depreciation expense 4,800 Total other inflows of cash Total inflows of cash Outflows of Cash Payment for purchase of land $(5,200) Decrease in accounts payable (2.800) Payment of dividends (3,000) Gain on sale of equipment (700) Total outflows of cash Net increase in cash Cash, December 31, 2019 Cash, January 1, 2019 6,900 $15,200 (11,700) $3,500 11,700 $8,200 You determine that the amounts of the items listed on the statement are correct, but in certain circumstances, incorrectly classified. Next Level Prepare a corrected 2019 statement of cash flows for Andell. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. ANDELL COMPANY Statement of Cash Flows For Year Ended December 31, 2019 Operating Activities: Cash x Adjustment for noncash income items: Add: Depreciation expense Less: Gain on sale of bonds x Adjustments for cash flow effects from working capital items: Increase in accounts payable x Net cash provided by operating activities Investing Activities: Financing Activities: Cash, January 1, 2019 Cash, December 31, 2019