Answer to Question #244800 in Accounting for samantha

Question

II. Directions: Based on the following amounts of Lychee Company, prepare a cash flow

statement for the year ended 2020.

Cash balance, January 1, 2020 ₱ 300,000

Decrease in accounts receivable 85,000

Interest expense 55,500

Proceeds from sale of equipment 130,000

Payment of equity financing 65,000

Decrease in accounts payable 54,000

Increase in inventory 118,000

Proceeds from issuance of long-term bonds payable 250,000

Increase in salaries payable 125,000

Income tax expense 49,000

Payment for purchase of equipment 280,000

Answer 1

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