Cash Flow Preparation Assignment

Topics: Generally Accepted Accounting Principles, Balance sheet, Cash flow statement Pages: 3 (306 words) Published: August 23, 2013
Cash Flow Preparation Assignment

27.

|CROSBY Corporation | |Statement of Cash Flows | |For the Year Ended December 31, 2008 | |Cash flows from operating activities: | | Net income (earnings after taxes)................................... |0 |160,000 | | Adjustments to determine cash flow from operating activities: | | Add back depreciation................................................. |150,000 |0 | | Increase in account receivable................................... |(50,000) |0 | | Increase in inventory.................................................... |(20,000) |0 | | Decrease in prepaid expenses.................................... |20,000 |0 | | Increase in accounts payable...................................... |190,000 |0 | | Decrease in accrued expenses................................... |(20,000) |0 | | Total adjustments...................................................... | |270,000 | | Net cash flows from operating...
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