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This information is for Pharoah Company for the year ended December 31, 2017. Cash received from...

This information is for Pharoah Company for the year ended December 31, 2017.

Cash received from lenders $21,200
Cash received from customers 45,600
Cash paid for new equipment 28,600
Cash dividends paid 5,800
Cash paid to suppliers 15,100
Cash balance 1/1/17 12,000


(a)

Prepare the 2017 statement of cash flows for Pharoah Company. (List negative amounts either with a negative sign preceding the number e.g. -15,000 or in parentheses e.g. (15,000).)

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Answer #1

Answer-a)-

PHAROAH COMPANY
STATEMENT OF CASH FLOWS (USING DIRECT METHOD)
FOR THE YEAR ENDED 31 DECEMBER,2017
Particulars Amount
Cash flow from operating activities
Cash received from customers 45600
Cash paid to suppliers -15100
Net cash flow (used for) operating activities (a) 30500
Cash Flow from Investing activities
Cash paid for new equipment -28600
Net cash Flow (used for) Investing activities (b) -28600
Cash Flow from Financing activities
Cash dividends paid -5800
Cash received from lenders 21200
Net cash Flow from Financing activities (c) 15400
Net Change in cash c=a+b+c 17300
Beginning cash balance 12000
Closing cash balance 29300
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