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20 minutes please Question 3 [30 points) Use the x-call inc. Sinancial statements and supplementary information given below to prepare a statement of cash flows
20 minutes please
Question 3 [30 points) Use the x-call inc. Sinancial statements and supplementary information given below to prepare a statement of cash flows for the year ended December 31, 2014 using the Indirect method a Additional Information: a. Purchased machinery for $23.000 cash D. Sold the long-term investment on January 1, 2014 for $27.000 c Sold machinery for $17.500 cash that had originally cost 554.000 and had $45.000 of accumulated depreciation a. Issued 531.000 of bonds payable at face value e. The short-term investment is a treasury bill that was purchased with maturity in 90 days (select one Statement of Cash Flows (select one) Cash flows from operating activities Adjust to reconcile net income to cash provided by operact: X-cellino Comparative Balance Sheenformation December 31 Assets 2014 2013 Cash 202 200 140 000 Short-term Investments 162.000 154 000 Accounts receivable 146.500 94.000 Merchandise laventory 20.200 74.000 Long term Investment 0 37.000 Machinery 154,000 180,000 Accumulated depreciation (108.000) (125.000) Total assets 576.900 554.000 X + Cash flows from Investing activities || Cash flows from financing actitles | ||| Llabilities and Equity Accounts payable Didends payable Bonds payable Share capital Retained earning Total Ilalities and equiry 77,400 8.000 31000 352,000 108.500 576.900 52000 47.000 0 352.000 103.000 554.000 Net Increase (decrease) In cash Cash at beginning of year Cash at end of year.. 730,000 X-cellino Income Statement For Year Ended December 31, 2014 Sales Cost Of Goods Sold 650.000 Depreciation expense 28.000 Omer expenses 35 000 Loss on sale of long-term investment Gain on sale of machinery.. Net Income (723 000) (10.000) 8.500 5,500 Step by Step Solution
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