Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

clarification step by step Trobletn 2 begin{tabular}{|l|l|l|} hline multicolumn{3}{|c|}{ Balance Sheet } hline & Year 2 & hline ASSETS & hline Cash

clarification step by step image text in transcribed
image text in transcribed
Trobletn 2 \begin{tabular}{|l|l|l|} \hline \multicolumn{3}{|c|}{ Balance Sheet } \\ \hline & Year 2 & \\ \hline ASSETS & \\ \hline Cash & 313 & 142 \\ \hline Accoant receivable & 2675 & 2490 \\ \hline Inventory & 1552 & 602 \\ \hline Prepayments & 469 & 57 \\ \hline Total cterrent assets & 5,009 & 3,291 \\ \hline PPE, at cost & 24,039 & 17,809 \\ \hline Less: Aecumulated depreciation & (5713) & (4288) \\ \hline Other assets & 641 & 1112 \\ \hline Total assets & 23,976 & 17,924 \\ \hline \end{tabular} LIABILITIES \& SHAREHOLDERS' EQUTTY \begin{tabular}{|l|l|l|} \hline Accounts payable & 993 & 939 \\ \hline Notes Payable & 140 & 1021 \\ \hline Current portion of L-T Debt & 1789 & 1,104 \\ \hline Other current liabilities & 2423 & 1310 \\ \hline Total current liabilities & 5,345 & 4,374 \\ \hline L-T Debt & 9804 & 6,738 \\ \hline Deferred income taxes & 803 & \\ \hline Other noncurrent liabilities & 226 & 11,112 \\ \hline Total liabilities & 16,178 & 20 \\ \hline Common stock & 21 & 4323 \\ \hline Additional PIC & 4569 & 2469 \\ \hline Retained earnings & 3208 & \\ \hline \end{tabular} a. No sale of PPE during the year. b. The changes in Other Noncurrent Assets are investing activities. c. The changes in Other Noncurrent Liabilities are financing activities. d. The changes in deferred income taxes are operating transactions REQUIREMENTS: 1. Prepare the statement of cash flow for year 2 using the indirect method. 2. Briefly comment on the operating, investing, and financing activities of the firm

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_2

Step: 3

blur-text-image_3

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

Introduction To Financial Accounting Multiple Choice Questions

Authors: George Fossi Kamga

1st Edition

6205912481, 978-6205912485

More Books

Students also viewed these Accounting questions