> Content M Question 5 - Ch 12 Homework Course Hero x + ezto.mheducation.com/ext/map/index.html?_con-con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252Fltiwrapper%252Fltia Close Wind... Q Ch 12 Homework i Saved 5 Exercise 12-13 (Algo) Indirect: Preparing statement of cash flows LO P2, P3 2 points At December 31 Assets Cash MONTGOMERY INCORPORATED Comparative Balance Sheets Accounts receivable, net Inventory eBook Total current assets References Equipment Accumulated depreciation-Equipment Total assets Liabilities and Equity Total current liabilities Equity Accounts payable Salaries payable Common stock, no par value Current Year Prior Year $ 56,900 14,100 126,400 197,400 70,000 (31,700) $ 235,700 $ 33,700 600 34,300 170,000 $ 57,100 17,300 100,000 174,400 59,200 (21,800) $ 211,800 $ 36,200 800 37,000 157,400 Mc Graw Hill Retained earnings Total liabilities and equity MONTGOMERY INCORPORATED Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Salaries expense Depreciation expense $ 61,500 (25,500) 36,000 7,600 Income before taxes Income tax expense Net income 9,900 18,500 4,500 $ 14,000 31,400 17,400 $ 235,700 $ 211,800 Additional Information on Current-Year Transactions a. No dividends are declared or paid. b. Issued additional stock for $12.600 cash. 31 < Prev 5 of 7 Next > Help Save & Exit Submit Check my work May 3 11:50 1 > Content M Question 5 - Ch 12 Homework Course Hero x + ezto.mheducation.com/ext/map/index.html?_con-con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252Fltiwrapper%252Fltia Close Wind... Q Ch 12 Homework i Saved Help Save & Exit Submit 2 5 points Additional Information on Current-Year Transactions a. No dividends are declared or paid. b. Issued additional stock for $12,600 cash. c. Purchased equipment for cash; no equipment was sold. 1. Use the above information to prepare a statement of cash flows for the current year using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. eBook References Cash flows from operating activities Mc Graw Hill MONTGOMERY, INCORPORATED Statement of Cash Flows (Indirect Method) For Current Year Ended December 31 Adjustments to reconcile net income to net cash used in operating activities: Income statement items not affecting cash Changes in current operating assets and liabilities Cash flows from investing activities 31 Check my work Screen capture now Screenshot taken Show in folder 5 Copied to clipboard Search + V Edit Delete < Prev. 5 of 7 Next > May 3 11:50 > Content M Question 5 - Ch 12 Homework Course Hero x + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252Fltiwrapper%252Fltia Close Wind... Q Ch 12 Homework i 5 2 points eBook References Mc Graw Hill MONTGOMERY, INCORPORATED Cash flows from operating activities Statement of Cash Flows (Indirect Method) For Current Year Ended December 31 Adjustments to reconcile net income to net cash used in operating activities: Income statement items not affecting cash Changes in current operating assets and liabilities Cash flows from investing activities Cash flows from financing activities Cash balance at beginning of year Cash balance at end of year 31 Saved Help Save & Exit Submit Check my work Screen capture now Screenshot taken Show in folder 5 Copied to clipboard Search + V Edit Delete < Prev. 5 of 7 Next > May 3 11:50 > Content M Question 5 - Ch 12 Homework Course Hero x + ezto.mheducation.com/ext/map/index.html?_con-con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252Fltiwrapper%252Fltia Close Wind... Q Ch 12 Homework i 5 2 points Cash flows from operating activities For Current Year Ended December 31 Adjustments to reconcile net income to net cash used in operating activities: Income statement items not affecting cash eBook References Mc Graw Hill Changes in current operating assets and liabilities Cash flows from investing activities Cash flows from financing activities Cash balance at beginning of year Cash balance at end of year 31 Saved Help Save & Exit Submit Check my work Screen capture now Screenshot taken Show in folder 5 Copied to clipboard Search + V Edit Delete < Prev 5 of 7 Next > May 3 11:50