Homework Answers
Solution:
| Barry Company | ||
| Statement of Cash Flows | ||
| For year ended 2011 | ||
| Particulars | Details | Amount |
| Cash Flow from Operating Activities: | ||
| Net Income | $75,800.00 | |
| Adjustments to reconcile net income to net cash provided by operations: | ||
| Depreciation Expense | $38,000.00 | |
| Gain on sale of investment | -$25,000.00 | |
| Decrease in accounts receivables ($70,200 - $61,000) | $9,200.00 | |
| Increase in inventory ($121,000 - $105,000) | -$16,000.00 | |
| Increase in accounts payable ($59,750 - $47,250) | $12,500.00 | |
| Net Cash provided by operating activities | $94,500.00 | |
| Cash Flow from Investing Activities: | ||
| Purchase of equipment | -$150,000.00 | |
| Proceed from sale of investment | $125,000.00 | |
| Net Cash Provided by Investing activities | -$25,000.00 | |
| Cash Flow from Financing Activities: | ||
| Proceed from issue of common stock | $75,000.00 | |
| Bonds repayment | -$75,000.00 | |
| Dividend paid | -$40,000.00 | |
| Net Cash used in financing activities | -$40,000.00 | |
| Net Increase / (Decrease) in Cash | $29,500.00 | |
| Cash balance at beginning of year | $42,500.00 | |
| Cash balance at end of year | $72,000.00 | |
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