P 144

Thefollowing transactions occurred in the Hubris Corporation during

the yearended December 31, 2020.

a. Netincome $800

 

b.Depreciation expense $120

 

c. Increasein wages payable $20

 

d. Increasein accounts receivable $40

 

e. Decreasein merchandise inventory $50

 

f.Amortization of patents $5

 

g. Paymentof noncurrent borrowings $250

 

h. Issuanceof common stock for cash $500

 

i. Paymentof cash dividends $30

 

Otherinformation: Cash at December 31, 2020 was $1,200.

 

Required:

1. Preparea statement of cash flows.

2.(Appendix) Prepare a cash flow table. The first two columns are not

necessary.Show that cash effects net to a $1,175 inflow.

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