Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Data Table iData Table Panel B-Statement of Cash Flows: Flows from Operating Activities: Alden Group, Inc. Alden Group, Inc. a] Income Statement Comparative Balance Sheet

image text in transcribedimage text in transcribed

Data Table iData Table Panel B-Statement of Cash Flows: Flows from Operating Activities: Alden Group, Inc. Alden Group, Inc. a] Income Statement Comparative Balance Sheet December 31, 2018 and 2017 Adjustments to Reconcile Net Income to Net Cash Provided by Operating ed December 31, 2018 Year $438,000 Net Sales Revenue 2018 2017 Activities: 205.100 Cost of Goods Sold Assets Depreciation Expense-Plant Assets b) 232.900 Current Assets: Gross Profit Decrease in Acoounts Recelvable (c) Operating Expenses: 5,200 S 15,300 Cash Mory (d. 76,200 |nerese ice loanton ecmciation Expense- 96 900 93 600 (e) Plant Assets 15 800 Decrease in Accrued Liahilities Long-term Assets 49 800 Land 43,700 18,000 Other Operating Expenses Net Cash Provided by Operating Activities Cash Flows from Investing Activities: 123.450 112.850 Plant Assets 141,800 Total Operating Expenses Depreciation- Cash Payment for Acquisition of Plant Assets (18,650 Operating Income 91.100 (22,550) Plant Assets (h) Ot (Expenses): S 288.500 264.200 Total Assets caipt for Sale of Land 1.30 Liabilities (24.700 Net Cash Used Investing Activities Interest Expense Total Other Income and (Expenses) Current Liabilities Cash Flows from Financing Activities: Cash Payment of Notes Payable S 24,200 S26.000 ble (13,400 Accrued Liabilities 23,700 22.200 come Before Income Taves Cash Receipt from Issuance of Common Long-tem Liabilities: 77,700 stock (k) 47,000 64.000 Notes Payable 16.400 t of Dvidende Income Tax Expense 0) Total $ 61,300 Net Cash Used for Financing Activities Net Income ies 94.900 112,200 Net Increase in Cash Stockholders' Equity m) Common Stock, no par 141.300 132.500 Print Done Non-cash Investing and Financing Activities: Receipt from Disposal of Plant 52,300 19.500 Retained Eamings 193 600 152.000 Total Stockholders' Equity Assot Total Liabilities and Stockholders Equity Total Non-cash Investing and Financing Activities $ 288,500 S 264,200 Total Print Done Use the transaction references in Panel B when selecting the transaction references in Panel A. (If a your answer until both Panel A and Panel B have been con enter a zero, Do no used in the spreadsheet, leave the box empty; do not select Alden Spreadsheet Statement of Cash Flows Year Ended Docember 31, 2018 Data Table Data Table Transaction Analysis CREDIT DEBIT Balance Balance 12/31/2017 12/31/2018 Panel A-Balance Sheet: $ 15.300 Cash 200 Alden Group, Inc. Alden Group, Inc. 43,100 Income Statement Accounts Recelvable 41,800 Comparative Balance Sheet dDecember 31, 201 93,600 | 18.000 Merchandise Inventory December 31, 2018 and 2017 96,900 Net Salps Ro $438,000 2018 2017 Land 43,700 205.100 Assets Cost of Goods Sold 112,850 (18,650) Plant Assets 123.450 Current Assets: Gross Profit 232.900 (22.550) Accumulated Depreciation-Plant Assets Operating Expenses Cash 5.200 S 15,300 $ 264,200 288,500 Accounts Receivable 41,800 43,100 Salaries Expense 76,200 Total Assets nventory 96,900 93,600 Expense- .... Plant Assets Long-term Assets 15,800 26,000 Accounts Payable 24,200 49.800 Land 43,700 18.000 Other Operating Expenses Accrued Liabilities Plant Assets 123.450 112.850 141,800 Total Operating Expenses Operating Income Depreciation- Plant Assets (22,550) 18.650) 91.100 112.200 94.900 Other Income and (Expenses): 264.20 288.500 Total Assets Interest Revenue 132,600 19.500 Common Stock 141.300 Liabilities (24,700) Interest Expense Current Liabilities: 52.300 Retained Eamings Income and $ 24,200 Accounts Payable 26,000 (13.400) $ 288.500 $ 264,200 (Expenses) Total Liabilities and Stockholders' Equity 23,700 22,200 es Net Income Before Income ong-term Liabilities Taxes Panel B-Statement of Cash Flows: 47,000 64.000 Nates Payable Total Income Tax Expense Cash Flows from Operating Activities: S 61.300 Net Income Liabilities 94,900 112,200 Net Income (a) Stockholders' Equity Adjustments to Reconcile Net Income sh Provided by Operating Common Stock no nar 1.300 132,500 Print Done Activities: 52.300 19.500 Retained Eamings b) Depreciation Expense-Plant Assets 193.600 152,000 Total Stockholders' Equity Decrease in Accounts Receivable (c) Total Liabilities and Stockholders" Equity 288,500 264,200 Increase in Merchandise Inventory (d Increase in Accounts Payable (e) Done Print Decrease in Accrued Liabilities (T)

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

How To Perform A GDPR Compliance Audit

Authors: Kieran McLaughlin

1st Edition

1798935120, 978-1798935125

More Books

Students also viewed these Accounting questions

Question

Draw the Lewis electron dot diagram for each ion. a. H+ b. H

Answered: 1 week ago