Accounting Homework Solutions

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EXERCISE 6-3 (15-- 20 minutes) (a) (b) (c) (d) (e) 4. 3. 4. 3. 1. (f) (g) (h) (i) (j) 1. 5. 4. 5. 4. (k) 1. (l) 2. (m) 2.

EXERCISE 6-8 (35-- 45 minutes) CONSTANTINE CAVAMANLIS INC. Statement of Cash Flows For the Year Ended December 31, 2008 Cash flows from operating activities Net income ............................................................. Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense .............................................. Increase in accounts receivable .................... Increase in accounts payable ................................. Net cash provided by operating activities ........... Cash flows from investing activities Purchase of equipment ......................................... Cash flows from financing activities Issuance of common stock .............................................. Payment of cash dividends ............................................. Net cash used by financing activities .................. Net increase in cash................................................................... Cash at beginning of year......................................................... Cash at end of year ........................................................ $ 44,000

$ 6,000 (3,000) 5,000

8,000 52,000 (17,000)

20,000 (23,000) (3,000) 32,000 13,000 $ 45,000

PROBLEM 6-5

(a)

YOYO COMPANY Statement of Cash Flows For the Year Ended December 31, 2008 Cash flows from operating activities Net income.................................................... Adjustments to reconcile net income to net cash provided by operating activities Depreciation expense........................... Increase in accounts receivable .......... Increase in inventory ............................ Decrease in accounts payable............. Increase in income taxes payable ....... Net cash provided by operating activities ............................................ Cash flows from investing...
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