Use the Following Calendar-Year Information to Prepare Adam Company's Statement

question 130

Essay

Use the following calendar-year information to prepare Adam Company's statement of cash flows using the direct method.
$\begin{array} { | l | r | } \hline \text { Cash paid to purchase machinery } & \$ 124,000 \\\hline \text { Cash paid for merchandise inventory } & 220,000 \\\hline \text { Cash paid for operating expenses } & 280,000 \\\hline \text { Cash paid for interest } & 4,000 \\\hline \text { Cash received for interest } & 10,000 \\\hline \text { Cash proceeds from sale of land } & 100,000 \\\hline \text { Cash balance at beginning of year } & 15,000 \\\hline\text { Cash balance at end of year }&77,000\\\hline \text { Cash borrowed on a short-term note } & 25,000 \\\hline \text { Cash dividends paid } & 24,000 \\\hline \text { Cash received from stock issuance } &57,000 \\\hline \text { Cash collections from customers } & 522,000 \\\hline\end{array}$

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American Academy

An organization dedicated to the advancement of specific professional fields or interests, often focusing on education, research, and certification standards.