Business, 06.01.2021 17:50 idontknow11223344

The following information is available for Ivanhoe Company for the year ended December 31, 2022. Beginning cash balance $78,750
Accounts payable decrease 6,475
Depreciation expense 283,500
Accounts receivable increase 14,350
Inventory increase 19,250
Net income 497,175
Cash received for sale of land at book value 61,250
Cash dividends paid 21,000
Income taxes payable increase 8,225
Cash used to purchase building 505,750
Cash used to purchase treasury stock 45,500
Cash received from issuing bonds 350,000

Required:
Prepare a statement of cash flows using the indirect method.

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Answer from: lilday2444

Answer and Explanation:

The preparation of the cash flow statement is presented below:

Cash Flows From Operating Activities

Net Income $497,175

Adjustments made:

Less: Increase in Accounts Receivable-$14,350

Less: Increase in Inventory -$19,250

Less: Decrease in accounts payable -$6,475

Add: Increase in Income tax payable $8,225

Add: Depreciation Expense $283,500

Net Cash Provided by Operating Activities (A) 748,825

Cash Flows From Investing Activities

Cash received for sale of land at book value $61,250

Less: Cash used to purchase a building -$505,750

Net Cash Provided by Investing Activities (B) -$444,500

Cash Flows From Financing Activities

Cash received from issuing bonds $350,000

Less: Cash used to purchase Treasury stock -$45,500

Less: Cash Dividends Paid -$21,000

Net Cash Used by Financing Activities (C) $283,500

Net Increase in Cash (A+B+C) $587,825

Add: Beginning cash balance 78,750

Ending cash balance $666,575

Answer from: Quest

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explanation:

Answer from: Quest

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

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The following information is available for Ivanhoe Company for the year ended December 31, 2022. Be...