Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

$ $ 18,150 (1) 2,800 260 14,020 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Other current liabilities Notes payable

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
$ $ 18,150 (1) 2,800 260 14,020 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Other current liabilities Notes payable (current and long-ter) Stockholders equity Common stock Paid-in Capital Retained earnings Treasury stock Total liabilities and stockholders' equity 15,280 21,600 543,838 1,260 21,600 513,638 (1) (1) (1) 30,200 20,00 122,000 022 200 588,036 (96,000) $1.608.714 33.55 102,000 (1) 922,200 (1) 24,486 ( (96,000) (1) $102,050 Additional Information for 2022: 1 Land of $520.000 was obtained by issuing a note payable to the seller 2. Buildings of $806.000 and equipment of $23,060 were purchased using cash 3. Monthly payments during the year reduced notes payable by $6,362 4. Issued common stock for $1,020,000 5. Purchased 10.200 shares of treasury stock for $16 per share. 6. Sold 4.200 shares of treasury stock at $17 per share. 7. Declared and paid a cash dividend of $12.320. Required: Prepare the statement of cash flows for the year ended December 31, 2022. using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) GREAT ADVENTURES, INC. Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Adjustments to reconcile net income to net cash flows from operating activities Net cash flow from operating activities Cash Flows from Investing Activities Net cash flow from investing activities Cash Flows from Financing Activities

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting The Ultimate Guide To Accounting Principles

Authors: Greg Shields

1st Edition

1722964839, 978-1722964832

More Books

Students also viewed these Accounting questions