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Cash and cash equivalents balance, December 31, 2014 $ 38,000 Cash and cash equivalents balance, December...

Cash and cash equivalents balance, December 31, 2014 $ 38,000 Cash and cash equivalents balance, December 31, 2015 106,856 Cash received as interest 3,800 Cash paid for salaries 110,200 Bonds payable retired by issuing common stock (no gain or loss on retirement) 170,000 Cash paid to retire long-term notes payable 190,000 Cash received from sale of equipment 93,100 Cash received in exchange for six-month note payable 38,000 Land purchased by issuing long-term note payable 98,600 Cash paid for store equipment 36,100 Cash dividends paid 22,800 Cash paid for other expenses 60,800 Cash received from customers 737,200 Cash paid for inventory 383,344 Use the above information about the cash flows of Ferron Company to prepare a complete statement of cash flows (direct method) for the year ended December 31, 2015. Use a note disclosure for any noncash investing and financing activities. (Amounts to be deducted should be indicated with a minus sign.)

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ferron company

statement of cash flows

for the year end of december 31 , 2015

particulars amount amount
CASH FLOWS FROM OPERATING ACTIVITES
receipts from customers 737200
payments for merchandise - 383344
payments for other expense - 60800
payment for salaries - 110200
receipt of interest 3800
NET CASH PROVIDED BY OPERATING ACTIVITIES 186656
CASH FLOWS FROM INVESTING ACTIVITES
receipts from sale of equipments 93100
payment for store equipments - 36100
NET CASH PROVIDED BY INVESTING ACTIVITIES 57000
CASH FLOWS FROM FINANCING ACTIVITIES
payment to retire long terms notes payable -190000
dividend payment -22800
receipts from exchange of six month notes payable 38000
NET CASH PROVIDED BY FINANCING ACTIVITIES - 174800
net cash flow from activities 68856
add; opening balance of cash & cash equivalents 38000
ENDING BALANCE OF CASH AND CASH EQUIVALENT 30856

ekkarill92 answered 1 year ago
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