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    Top Ten Clothiers Inc. (John Carlo Aquino, 31-BSA-03)

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    John Carlo Aquino
    Top Ten Clothiers Inc. had a net cash outflow of $152,000 from operating activities in 2002 due to cash payments for inventory and expenses exceeding cash receipts from customers. They had a net cash inflow of $105,000 from investing activities by selling long-term investments. Financing activities used $150,000 in cash through payments of bonds payable and dividends. Overall, cash decreased by $197,000 during the year.

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    Top Ten Clothiers Inc. (John Carlo Aquino, 31-BSA-03)

    Uploaded by

    John Carlo Aquino
    411 views2 pages
    Top Ten Clothiers Inc. had a net cash outflow of $152,000 from operating activities in 2002 due to cash payments for inventory and expenses exceeding cash receipts from customers. They had a net cash inflow of $105,000 from investing activities by selling long-term investments. Financing activities used $150,000 in cash through payments of bonds payable and dividends. Overall, cash decreased by $197,000 during the year.

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    Top Ten Clothiers Inc. had a net cash outflow of $152,000 from operating activities in 2002 due to cash payments for inventory and expenses exceeding cash receipts from customers. They had a net cash inflow of $105,000 from investing activities by selling long-term investments. Financing activities used $150,000 in cash through payments of bonds payable and dividends. Overall, cash decreased by $197,000 during the year.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    411 views2 pages

    Top Ten Clothiers Inc. (John Carlo Aquino, 31-BSA-03)

    Uploaded by

    John Carlo Aquino
    Top Ten Clothiers Inc. had a net cash outflow of $152,000 from operating activities in 2002 due to cash payments for inventory and expenses exceeding cash receipts from customers. They had a net cash inflow of $105,000 from investing activities by selling long-term investments. Financing activities used $150,000 in cash through payments of bonds payable and dividends. Overall, cash decreased by $197,000 during the year.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Top Ten Clothiers Inc.

    Statement of Cash Flows

    For the Year Ended December 31, 2002

    Cash flows from operating activities:

    Cash receipts from customers 940,000

    Cash payments for:

    Inventory 750,000

    Operating expenses 342,000 1,092,000

    Net cash used in operating activities (152,000)

    Cash flows from investing activities:

    Sale of long-term investments 105,000

    Net cash flow provided by investing activities 105,000

    Cash flows from financing activities:

    Payment of bonds payable (60,000)

    Payment of dividends (90,000)

    Net cash flow used in financing activities (150,000)

    Net decrease in cash (197,000)

    Cash at beginning of year 240,000

    Cash at end of year 43,000

    Computations:

    Sales 1,120,000

    Accounts Receivable, beginning 210,000

    Accounts Receivable, ending (390,000)

    Cash collected from customers 940,000


    Purchases 660,000

    Accounts Payable, beginning 240,000

    Accounts Payable, ending (150,000)

    Cash payments for inventory 750,000

    Operating Expenses 360,000

    Operating Expenses Payable:

    Beginning 30,000

    Ending (48,000)

    Cash payments for operating expenses 342,000

    Retained Earnings, Beg. 300,000

    Retained Earnings, End. (205,000)

    Net Loss (5,000)

    Dividends 90,000

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