Classic Reserve Rare C CRRC) was formed on January 1, 2018 M Click the icon to view the data) onata for the year low Read the requirements More Info - X Requirement 1. What is the purpose of the statement of cash flows? The purpose of the statement of cash flow is to show where cash came from and how cash was spent during the period Requirements On January 1, 2018 CRRC sed ne pa common stock for $550.000 Early in January CRRC made the following cash payt For 5100 2 Formethandise r y 000 For rent pense on a wore b ig 519.000 Later in the CRRC purchased merchandisinerary count or 000 Bey ond CRRC 135.000 Duna 2018 CRRC 2000 and the year and the company cocted of this mont Cost of goods sold for the year was $300 000, and ending merchandise inventory o d 195.000 The wore employs the people The combined annual pris 554000 which CRRC 6 000 trand At the end of the pain 13.000 There 1. 2. What is the purpose of the statement of cash flow? Prepare CRRCs income statement for the year ended December 31, 2018 Use the single step format with all revenues t ogether and expenses listed together Prepare CRRC's balance sheet December 2015 Prepare CRRC's st o f cash flowing the Indirect method for the year ended December 31, 2018 3. 4. Latein 2011 CRRC paid cash dividends of $99.000 Forstore CRRC S e straight line depreciation method over the years Done Classic Reserve Rare Coins (CRRC) was formed on January 1, 2016. Additional data for the year follow Click the icon to view the data) More info Read the requirements income Year Ended December 31, 2018 On January 2018 CRRC p no o r 550 000 h. Early in January C C made the following payments 1. For store , 551,000 2. For merchandise inventory $250.000 3 For rent expense on a store bug 519 000 Later in the year CRRC purchased merchandisinventory on account for 5 000 Before you CRRC 5135 000 of payable During 2015 CC 2.000 dinary for yh dot Cost of the was 5000 merchandise m y 5195.000 The real three The com p aris 5540 CRRC sowe 600 atywand At the end of the ye CRRC pad income tax of $18000 There are no income taxes T enses Net Income Luin 2015 CRRC ad cash didends 000 A. For store future CRRC uses the straight and depreciation method over to your oose from any best or enter any number in the input selds and then continue to the next question Classic Reserve Rare Coins Balance Sheet December 31, 2018 Assets Liabilities Current Assets Current Liabilities: Total Current Liabilities Total Current Assets A Stockholders' Equity Property, Plant, and Equipment: Classic Reserve Rare Coins (CRRC) was formed on January 1, 2018. Additional data for the year follow Click the icon to view the data) Read the requirements Stockholders' Equity Property. Plant, and Equipment Total Stockholders' Equity Total Assets Total Liabetes and Stockholders Equity Requirement 4. Prepare CRRC's statement of cash flows using the indirect method for the year ended December 31, 2018. (Use a minus sign or parentheses for amounts that result in a decreas the statement, leave the box emply do not select a label or entrar Enter " for a 200 cash balance) Complete the statement one section at a time, beginning with the cash flows from operating activities Classic Reserve Rare Coins Statement of Cash Flows Choose from any list or enter any number in the input fields and then continue to the next question Classic Reserve Rare Coins Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities a. On January 1, 2018. CRRC issued no par common stock for $550,000. b. Early in January, CRRC made the following cash payments 1. For store fixtures, 551,000 2. For merchandise inventory, $250,000 3. For rent expense on a store building $19.000 Later in the yea, CRRC purchased merchandise inventory on account for $235.000 Before year-end, CRRC paid $135,000 of this accounts payable d. During 2018 CRRC sold 2000 units of merchandise inventory for $300 each Before year-end, the company collected 95% of this amount Cost of goods sold for the year was $300.000, and ending merchandise inventory totaled $195.000 e. The store employs three people. The combined annual payroll is 594000, of which CRRC stil owes 56,000 a year-end 1. At the end of the year, CRRC paid income tax of $18,000. There are no income taxes payable 9. Latein 2018, CRRC paid cash dividends of 539.000 h. For store fixtures, CRRC uses the straight-Ine depreciation method, over five years. with zero residual value Classic Reserve Rare Coins (CRRC) was formed on January 1, 2018. Additional data for the year follow (Click the icon to view the data) More Info Read the requirements Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities On January 1, 2018 CRRC sodna por common stock for $550 000 b. Early in January, CRRC made the following cash payments 1. For store factures, 551,000 2. For merchandise inventory $260.000 3. For rent expense on a store building. $19,000 Later in the year CRRC purchased merchandise inventory on account for 5235 000 Before year-end, CRRC paid $135 000 of this accounts payable d. During 2018 CRRC sold 2 000 units of merchandise inventory for $300 each Before year and the company collected 95% of this amount Cost of goods sold for the year was $300 000, and ending merchandise inventory totaled $195.000 .. The store employs three people. The combined annual payroll is 594.000, of which CRRC owes $6 000 a year and 1. At the end of the year, CRRC paid income tax of $18.000. There are no income taxes payable 9. Latein 2018. CRRC paid cash dividends of $39.000 h. For store fixtures, CRRC uses the straight-ine depreciation method over five years. with raro residual value Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities Classic Reserve Rare Coins (CRRC) was formed on January 1, 2018. Additional data for the year follow (Click the icon to view the data.) More Info Read the requirements Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities a. On January 1, 2018, CRRC issued no par common stock for $950,000 b. Early in January, CRRC made the following cash payments: 1. For store forures 551000 2 For merchandise inventory, 5260.000 3. For rent expense on a store building, $19.000 c. Later in the year. CRRC purchased merchandise Inventory on account for 5235,000 Before year-end, CRRC pod 5135 000 of this payable d. During 2018 CRRC S 2.000 units of merchandise inventory for 5.300 each Before year and the company collected 95% of this amount Cost of goods sold for the year was $300.000, and ending merchandise Inventory totaled $195,000 e. The store employs the people. The combined annual payroll is 994000of which CRRC wes 55.000 a year-end 1. At the end of the year CRRC paid income tax of $18.000 There are no income taxes Net Cash Provided by Used for) Financing Activities Net Increase (Decrease in Cash Cash Balance, December 31, 2017 Cash Balance December 31, 2018 payable 9. Late in 2018. CRRC paid cash dividends of $39.000 For store fatures, CRRC uses the straight line depreciation method over five years with zero residual mooch me nous sont and non communs momento Classic Reserve Rare C CRRC) was formed on January 1, 2018 M Click the icon to view the data) onata for the year low Read the requirements More Info - X Requirement 1. What is the purpose of the statement of cash flows? The purpose of the statement of cash flow is to show where cash came from and how cash was spent during the period Requirements On January 1, 2018 CRRC sed ne pa common stock for $550.000 Early in January CRRC made the following cash payt For 5100 2 Formethandise r y 000 For rent pense on a wore b ig 519.000 Later in the CRRC purchased merchandisinerary count or 000 Bey ond CRRC 135.000 Duna 2018 CRRC 2000 and the year and the company cocted of this mont Cost of goods sold for the year was $300 000, and ending merchandise inventory o d 195.000 The wore employs the people The combined annual pris 554000 which CRRC 6 000 trand At the end of the pain 13.000 There 1. 2. What is the purpose of the statement of cash flow? Prepare CRRCs income statement for the year ended December 31, 2018 Use the single step format with all revenues t ogether and expenses listed together Prepare CRRC's balance sheet December 2015 Prepare CRRC's st o f cash flowing the Indirect method for the year ended December 31, 2018 3. 4. Latein 2011 CRRC paid cash dividends of $99.000 Forstore CRRC S e straight line depreciation method over the years Done Classic Reserve Rare Coins (CRRC) was formed on January 1, 2016. Additional data for the year follow Click the icon to view the data) More info Read the requirements income Year Ended December 31, 2018 On January 2018 CRRC p no o r 550 000 h. Early in January C C made the following payments 1. For store , 551,000 2. For merchandise inventory $250.000 3 For rent expense on a store bug 519 000 Later in the year CRRC purchased merchandisinventory on account for 5 000 Before you CRRC 5135 000 of payable During 2015 CC 2.000 dinary for yh dot Cost of the was 5000 merchandise m y 5195.000 The real three The com p aris 5540 CRRC sowe 600 atywand At the end of the ye CRRC pad income tax of $18000 There are no income taxes T enses Net Income Luin 2015 CRRC ad cash didends 000 A. For store future CRRC uses the straight and depreciation method over to your oose from any best or enter any number in the input selds and then continue to the next question Classic Reserve Rare Coins Balance Sheet December 31, 2018 Assets Liabilities Current Assets Current Liabilities: Total Current Liabilities Total Current Assets A Stockholders' Equity Property, Plant, and Equipment: Classic Reserve Rare Coins (CRRC) was formed on January 1, 2018. Additional data for the year follow Click the icon to view the data) Read the requirements Stockholders' Equity Property. Plant, and Equipment Total Stockholders' Equity Total Assets Total Liabetes and Stockholders Equity Requirement 4. Prepare CRRC's statement of cash flows using the indirect method for the year ended December 31, 2018. (Use a minus sign or parentheses for amounts that result in a decreas the statement, leave the box emply do not select a label or entrar Enter " for a 200 cash balance) Complete the statement one section at a time, beginning with the cash flows from operating activities Classic Reserve Rare Coins Statement of Cash Flows Choose from any list or enter any number in the input fields and then continue to the next question Classic Reserve Rare Coins Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities a. On January 1, 2018. CRRC issued no par common stock for $550,000. b. Early in January, CRRC made the following cash payments 1. For store fixtures, 551,000 2. For merchandise inventory, $250,000 3. For rent expense on a store building $19.000 Later in the yea, CRRC purchased merchandise inventory on account for $235.000 Before year-end, CRRC paid $135,000 of this accounts payable d. During 2018 CRRC sold 2000 units of merchandise inventory for $300 each Before year-end, the company collected 95% of this amount Cost of goods sold for the year was $300.000, and ending merchandise inventory totaled $195.000 e. The store employs three people. The combined annual payroll is 594000, of which CRRC stil owes 56,000 a year-end 1. At the end of the year, CRRC paid income tax of $18,000. There are no income taxes payable 9. Latein 2018, CRRC paid cash dividends of 539.000 h. For store fixtures, CRRC uses the straight-Ine depreciation method, over five years. with zero residual value Classic Reserve Rare Coins (CRRC) was formed on January 1, 2018. Additional data for the year follow (Click the icon to view the data) More Info Read the requirements Net Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities On January 1, 2018 CRRC sodna por common stock for $550 000 b. Early in January, CRRC made the following cash payments 1. For store factures, 551,000 2. For merchandise inventory $260.000 3. For rent expense on a store building. $19,000 Later in the year CRRC purchased merchandise inventory on account for 5235 000 Before year-end, CRRC paid $135 000 of this accounts payable d. During 2018 CRRC sold 2 000 units of merchandise inventory for $300 each Before year and the company collected 95% of this amount Cost of goods sold for the year was $300 000, and ending merchandise inventory totaled $195.000 .. The store employs three people. The combined annual payroll is 594.000, of which CRRC owes $6 000 a year and 1. At the end of the year, CRRC paid income tax of $18.000. There are no income taxes payable 9. Latein 2018. CRRC paid cash dividends of $39.000 h. For store fixtures, CRRC uses the straight-ine depreciation method over five years. with raro residual value Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities Classic Reserve Rare Coins (CRRC) was formed on January 1, 2018. Additional data for the year follow (Click the icon to view the data.) More Info Read the requirements Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities a. On January 1, 2018, CRRC issued no par common stock for $950,000 b. Early in January, CRRC made the following cash payments: 1. For store forures 551000 2 For merchandise inventory, 5260.000 3. For rent expense on a store building, $19.000 c. Later in the year. CRRC purchased merchandise Inventory on account for 5235,000 Before year-end, CRRC pod 5135 000 of this payable d. During 2018 CRRC S 2.000 units of merchandise inventory for 5.300 each Before year and the company collected 95% of this amount Cost of goods sold for the year was $300.000, and ending merchandise Inventory totaled $195,000 e. The store employs the people. The combined annual payroll is 994000of which CRRC wes 55.000 a year-end 1. At the end of the year CRRC paid income tax of $18.000 There are no income taxes Net Cash Provided by Used for) Financing Activities Net Increase (Decrease in Cash Cash Balance, December 31, 2017 Cash Balance December 31, 2018 payable 9. Late in 2018. CRRC paid cash dividends of $39.000 For store fatures, CRRC uses the straight line depreciation method over five years with zero residual mooch me nous sont and non communs momento