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Accounting 102

In: Business and Management

Submitted By matthuffine
Words 654
Pages 3
Matt Huffine
ACC 102 – OL010
Written Assignment 1

13.10 - Keaner Machinery, Inc – Statement of Cash Flows 12/31/2011
Net Income ------------------------------------ $385,000
Add: Depreciation Expense----------------$125,000
Amortization of Intangible Assests------$40,000
Non-operating loss on sales on investments-$35,000
Decrease in Accounts Receiveable-------$45,000
Decrease in Inventory-----------------------$72,000
Increase in accrued expenses payable--$25,000
Subtotal of additions------------------------------------------$342,000
Less: Non-operating gain on sale of plant assets—($90,000)
Increase in pre-paid expenses-------------------------($12,000)
Decrease in accounts payable-------------------------($31,000)

1. operating
2. financing
3. operating
4. financing
5. operating
6. operating
7. Not included, just transfer of a cash asset not needed to be in these categories, but in the supplemental.
8. investing
9. this is not included in the direct method, it is a non-cash exense
10. operating
11. financing
12. operating
13. operating
14. investing
15. no recording, cash equivalents don’t need to be recorded on cash flow.

Headrick, Inc
Cash flows from investing activities:
Purchases of marketable securities----------------------------------------------------$(75,000)
1.)Proceeds made from the sales of mark. Securities--------------------------------$132,000
Loans made to borrowers---------------------------------------------------------------$(210,000)…...

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