{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T19:04:19-04:00", "answer_date": "2024-05-26 19:04:19", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1754904", "url": "\/study-help\/questions\/accountants-for-morston-inc-have-assembled-the-following-data-for-1754904", "question_creation_date_js": "2024-05-26T19:04:19-04:00", "question_creation_date": "May 26, 2024 07:04 PM", "meta_title": "[Solved] Accountants for Morston, Inc. have assemb | SolutionInn", "meta_description": "Answer of - Accountants for Morston, Inc. have assembled the following data for the year ended December 31, 2024 (Click the icon t | SolutionInn", "meta_keywords": "accountants,morston,inc,assembled,data,year,ended,december,31,2024,click,icon", "question_title_h1": " Accountants for Morston, Inc. have assembled the following data for the year ended December 31, 2024 (Click the icon to view the current accounts)", "question_title": " Accountants for Morston, Inc. have assembled the following data for the", "question_title_for_js_snippet": "Accountants for Morston, Inc have assembled the following data for the year ended December 31, 2024 (Click the icon to view the current accounts) (Click the icon to view the transaction data) Prepare Morston's statement of cash flows using the indirect method include an accompanying schedule o Current Assets Complete the statement one section at a time, beginning with the cash flows from operating activities (Use label or enter a zero) Morston, Inc Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities Depreciation Expense Gain on Sale of Building Decrease in Accounts Receivable Increase in Accounts Payable Increase in Merchandise Inventory Decrease in Income Tax Payable Etext pages Calculator 2024 2023 Cashi Accounts Receivable Merchandise Inventory $ 97,300 $ 22 000 64,600 69,000 78,000 76,000 Current Liabilibes Accounts Payable 58,100 56,300 Income Tax Payable 14,600 16,900 70500 Data table 17000 (5000) 4400 Transaction Data for 2024 Issuance of common stock for $43,000 Payment of notes cash payable (2000) Depreciation expense 17,000 Payment of cash dividends 1400 Purchase of equipment with cash 71,000 Issuance of notes (2400) payable to borrow cash Acquisition of land by issuing 123,000 Gain on sale of building long term notes payable Book value of building sold 52,000 Not income", "question_description": "\"image\"image\"image", "transcribed_text": "Accountants for Morston, Inc. have assembled the following data for the year ended December 31, 2024 (Click the icon to view the current accounts) (Click the icon to view the transaction data) Prepare Morston's statement of cash flows using the indirect method include an accompanying schedule o Current Assets Complete the statement one section at a time, beginning with the cash flows from operating activities (Use label or enter a zero) Morston, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities Depreciation Expense Gain on Sale of Building Decrease in Accounts Receivable Increase in Accounts Payable Increase in Merchandise Inventory Decrease in Income Tax Payable Etext pages Calculator 2024 2023 Cashi Accounts Receivable Merchandise Inventory $ 97,300 $ 22.000 64,600 69,000 78,000 76,000 Current Liabilibes Accounts Payable 58,100 56,300 Income Tax Payable 14,600 16,900 70500 Data table 17000 (5000) 4400 Transaction Data for 2024: Issuance of common stock for $43,000 Payment of notes cash payable (2000) Depreciation expense 17,000 Payment of cash dividends 1400 Purchase of equipment with cash 71,000 Issuance of notes (2400) payable to borrow cash Acquisition of land by issuing 123,000 Gain on sale of building long-term notes payable Book value of building sold 52,000 Not income", "related_book": { "title": "Survey of Accounting", "isbn": "1285974360, 1285183487, 9781285974361, 978-1285183480", "edition": "7th edition", "authors": "Carl S. Warren", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/280.jpg", "uri": "\/textbooks\/survey-of-accounting-7th-edition-280", "see_more_uri": "" }, "free_related_book": { "isbn": "B0C9S88MP1", "uri": "\/textbooks\/trading-log-book-stock-trading-log-and-investment-journal-notebook-120-pages-1st-edition-b0c9s88mp1-126936", "name": "Trading Log Book Stock Trading Log And Investment Journal Notebook 120 Pages", "edition": "1st Edition" }, "question_posted": "2024-05-26 19:04:19", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/suppose-that-in-a-wave-of-pessimism-housing-prices-fall", "description": "Suppose that in a wave of pessimism, housing prices fall by 10% across the entire economy. a. Has the stock of real assets of the economy changed? b. Are individuals less wealthy? c. Can you...", "stars": 3 }, { "url": "\/given-the-long-history-of-expensive-and-yearslate-military-equipment", "description": "Given the long history of expensive and years-late military equipment projects, why wasnt this approach used sooner?", "stars": 3 }, { "url": "\/study-help\/statistics-for-engineers-and-scientists\/1231-from-time-to-time-one-branch-office-of-a-1807800", "description": "12.31 From time to time, one branch office of a company must make shipments to a certain branch office in another state. There are three package delivery services between the two cities where the...", "stars": 3 }, { "url": "\/study-help\/introduction-to-probability-statistics\/the-probability-for-the-intersection-of-two-events-equals-the-1981852", "description": "The probability for the intersection of two events equals the product of the probabilities for each event.", "stars": 3 }, { "url": "\/the-foster-insurance-company-developed-standard-times-for-processing-claims", "description": "The Foster Insurance Company developed standard times for processing claims. When a claim was received at the processing center, it was first reviewed and classified as simple or complex. The...", "stars": 3 }, { "url": "\/study-help\/questions\/i-fillin-4-questions-in-total-6-0-9880877", "description": "I. Fillin ( 4 questions in total; 6 0 . 0 points ) 1 1 . 5 minutes Give traversals of the tree ( 1 ) Preorder Inorder. PostordeI ( 2 ) Is it a complete tree?", "stars": 3 }, { "url": "\/1-compute-the-net-investment-required-to-establish-the-collection", "description": "1. Compute the net investment required to establish the collection subsidiary. 2. Compute the annual net cash flows over the 10-year life of the project. 3. Compute the net present value of this...", "stars": 3 }, { "url": "\/study-help\/questions\/according-to-class-lectures-and-the-text-global-inequality-is-9785724", "description": "According to class lectures and the text, global inequality is: decreasing around the world staying the same varying from year to year, with no distinct trend increasing around the world", "stars": 3 }, { "url": "\/study-help\/questions\/the-accidental-bank-robbery-case-study-1-identify-the-ethical-1000049", "description": "The Accidental Bank Robbery Case Study 1. Identify the ethical issues 2. Define possible alternatives 3. Explain the ethics of each alternative 4. What are possible constraints of each alternative?...", "stars": 3 }, { "url": "\/study-help\/questions\/design-and-develop-an-organizational-learning-strategy-using-the-feedback-1000038", "description": "Design and develop an organizational learning strategy Using the feedback that you received from CEO at the meeting as well as the information you researched and evaluated for your report, create...", "stars": 3 }, { "url": "\/study-help\/questions\/fresh-groceries-is-a-chain-of-supermarkets-in-victoria-australia-1000028", "description": "Fresh Groceries is a chain of supermarkets in Victoria, Australia. The vision of this company is to cater for the various groceries, fresh produce, and deli needs of the Victorian population. To do...", "stars": 3 }, { "url": "\/study-help\/questions\/fashionvalet-a-homegrown-ecommerce-platform-in-malaysia-recently-caused-a-1004573", "description": "FashionValet, a homegrown ecommerce platform in Malaysia, recently caused a stir with the announcement that it will be shutting down. The statement on its website read: \"As they say, all good things...", "stars": 3 }, { "url": "\/study-help\/questions\/1-what-is-the-oneyear-real-rate-of-return-in-1001305", "description": "1. What is the one-year real rate of return (in %) if you invested in a diversified portfolio of common stocks which produced a 11.45 % nominal return and the rate of inflation for the year was...", "stars": 3 }, { "url": "\/study-help\/questions\/the-riskfree-rate-is-278-and-the-market-risk-premium-8397839", "description": "The risk-free rate is 278% and the market risk premium is 6.29%. A stock with a B of 1.77 just paid a dividend of $2,54 The dividend is expected to grow at 23.40% for five years and then grow at 4...", "stars": 3 }, { "url": "\/why-is-it-important-to-understand-the-macroenvironment-when-making", "description": "Why is it important to understand the macro-environment when making decisions about an international retail venture?", "stars": 3 }, { "url": "\/study-help\/statistics-for-business-and-economics\/2017-5707-2005-3943-2018-7233-2006-4871-2019-1672123", "description": "2017 57.07 2005 39.43 2018 72.33 2006 48.71 2019", "stars": 3 }, { "url": "\/study-help\/statistics-for-business-and-economics\/retail-prices-of-food-items-in-1990-the-average-weekly-1672119", "description": "Retail prices of food items. In 1990, the average weekly food cost for a suburban family of four was estimated to be $154.40. The table (next column) presents the retail prices of four food items for...", "stars": 3 }, { "url": "\/study-help\/statistics-for-business-and-economics\/price-of-abbott-labs-stock-the-yearly-closing-prices-of-1672122", "description": "Price of Abbott Labs stock. The yearly closing prices of Abbott Laboratories stock are shown in the table below. a. Use exponential smoothing with w = .8 to forecast the 2020 and 2021 closing prices....", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/hirams-lakeside-is-a-popular-restaurant-located-on-lake-washington-1754903", "next": "\/study-help\/questions\/dewey-cheatem-and-howe-had-the-following-items-in-their-1754905" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": " Accountants for Morston, Inc. have assembled the following data for the", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/accountants-for-morston-inc-have-assembled-the-following-data-for-1754904" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }t_id": "1" } }