Question

( i need Unique answer, don't copy and paste, please) (dont' use handwriting, please)

Use the following calendar-year information to prepare Ibrahim Company's statement of cash flows using the direct method: (4 Points)

Cash paid to purchase machinery	$ 124,000
Cash paid for merchandise inventory	220,000
Cash paid for operating expenses	280,000
Cash paid for interest	4,000
Cash received for interest	10,000
Cash proceeds from sale of land	100,000
Cash balance at beginning of year	15,000
Cash balance at end of year	77,000
Cash borrowed on a short-term note	25,000
Cash dividends paid	24,000
Cash received from stock issuance	57,000
Cash collections from customers	522,000

Answer 1

Statement of cash flow :

Cash flow from operating activities
Cash collections from customers	522000
Cash received for interest	10000
Cash paid for merchandise inventory	-220000
Cash paid for operating expenses	-280000
Cash paid for interest	-4000
Net cash flow from operating activities		28000
Cash flow from investing activities
Cash paid to purchase machinery	-124000
Cash proceeds from sale of land	100000
Net cash flow from investing activities		-24000
Cash flow from financing activities
Cash borrowed on a short-term note	25000
Cash received from stock issuance	57000
Cash dividends paid	-24000
Net cash flow from financing activities		58000
Net cash flow		62000
Beginning cash		15000
Ending cash		77000