Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

During 2019, ProLogis purchased a new equipment for a total cost of $1,300. Other than dividends and net income, no other items impacted net income

During 2019, ProLogis purchased a new equipment for a total cost of $1,300. Other than dividends and net income, no other items impacted net income during 2019

image text in transcribed

A)Prepare the statement of cash flow for ProLogis as of the year ending December 31, 2019

using the direct method.

B) Prepare ONLY the operating activities section of the statement of cash flow using the indirect method.

ProLogis Inc: Income Statement for the Year Ending December 31, 2019 Revenue Cost of Goods Sold Salaries Depreciation Other Operating Expenses Other Revenue/Expenses: Gain on Sale of equipment Interest Expense Income Tax Expense Net income 23,598 11,456 4,123 1,052 3,577 205 246 1,139 2,210 $ $ 2019 1,011 1,012 3,984 155 6,162 510 3,680 8,798 ProLogis Inc: Comparative Balance Sheets: December 31, 2019 and 2018 Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets Land Building Equipment Accumulated Depreciation - Equipment Total Long Term Assets Total Assets Accounts Payable Salaries Payable Interest Payable Income Tax Payable Other Accrued Liabilities Total Current Liabilities Long Term Debt Common Stock Retained Earnings Total Liabilities and Equity 2018 $ 1,163 957 3,277 178 5,575 510 3,680 8,555 2,891 9,854 $ 15,429 $ 3,325 75 3,443 $ $ 9,545 15,707 3,588 85 62 55 50 $ 1126 4,916 3075 3750 3966 15,707 1104 $ 4,628 3575 4350 2876 $ 15,429 $

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

Step: 3

blur-text-image

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

Auditing A Practical Approach With Data Analytics

Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton

2nd Edition

1119786045, 978-1119785996

More Books

Students also viewed these Accounting questions