The following information is available for Vaughn Manufacturing for the year ended December 31, 2022. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds Prepare a statement of cash flows using the indirect method (Show amounts that decrease cash flow with either a sign eg-15,000 or in parenthesis eg (15,000) Adjustments to reconcile net income to Vaughn Manufacturing Statement of Cash Flows-Indirect Method < $40,500 3,330 145,800 7,380 9,900 255,690 31,500 10,800 > 4,230 260,100 23,400 180,000 <

The following information is available for Vaughn Manufacturing for the year ended December 31, 2022. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds Prepare a statement of cash flows using the indirect method (Show amounts that decrease cash flow with either a sign eg-15,000 or in parenthesis eg (15,000) Adjustments to reconcile net income to Vaughn Manufacturing Statement of Cash Flows-Indirect Method < $40,500 3,330 145,800 7,380 9,900 255,690 31,500 10,800 > 4,230 260,100 23,400 180,000 <

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter6: Statement Of Cash Flows

Section: Chapter Questions

Problem 20E

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Interest and Income Taxes Staggs Company has prepared its 2019 statement of cash flows. In conjunction with this statement, it plans to disclose the interest and income taxes it paid during 2019. The following information is available from its 2019 income statement and beginning and ending balance sheet: Required: 1. Compute the amounts of interest paid and income taxes paid by Staggs for 2019. 2. Next Level Under IFRS, how would interest paid and income taxes paid be reported?
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Category Accounts payable Accounts receivable Accruals Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt Net fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Prior Year Current Year 3,106.00 5,972.00 6,919.00 8,940.00 5,691.00 6,099.00 20,212.00 13,343.00 ??? ??? 2,850 18,751.00 500 2,850 22,826.00 500 965.00 1,016.00 1,259.00 1,123.00 3,086.00 6,750.00 16,982.00 22,296.00 75,731.00 73,844.00 4,053.00 6,596.00 19,950 20,000 35,937.00 34,762.00 46,360 45,530.00 350 920 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places.
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