Exercise 13-11 The following items were gathered from Sheridan Industries’ general ledger:

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Exercise 13-11

The following items were gathered from Sheridan Industries’ general ledger:

Sale of marketable securities $ 14,040
Depreciation and amortization expense 23,972
Payment of cash dividends 3,863
Proceeds from disposal of equipment 829
Loss on disposal of equipment 160
Net income 26,163
Beginning Cash balance 19,710
Purchase of equipment 21,412
Decrease in Accounts Receivable 1,098
Proceeds from issuing common stock 2,351
Increase in Inventory 3,625
Increase in Accounts Payable 4,670
Ending Cash balance 64,093

Using the indirect method, construct Sheridan Industries’ statement of cash flows. (Show amounts that decrease cash flow with either a – sign, e.g. -15,000 or in parentheses, e.g. (15,000).)

Sheridan Industries
Statement of Cash Flows
$

$

Net cash

by

activities

Net cash

by

activities

Net cash

by

activities

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Explanation & Answer

Attached.

SHERIDAN INDUSTRIES
STATEMENT OF CASH FL OW
FOR THE YEAR ENDED
Cash flow from operating activities
Net income

26163

Adjustment for;
Depreciation and …


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