e additional data.) i Data Table X Minerals Plus, Inc. Income Statement Year Ended September 30, 2018 Net Sales Revenue $ 234,000 89,000 Cost of Goods Sold Gross Profit 145,000 Operating Expenses: Salaries Expense 58,000 29,000 Depreciation Expense-Plant Assets 87,000 Total Operating Expenses Net Income Before Income Taxes 58,000 11,000 Income Tax Expense More Info X C. a. Acquisition of plant assets is $125,000. Of this amount, $110,000 is paid in cash and $15,000 by signing a note payable. b. Cash receipt from sale of land totals $21,000. There was no gain or loss. Cash receipts from issuance of common stock total $28,000. d. Payment of note payable is $14,000. Payment of dividends is $7,000. f. From the balance sheet: e. Cash Accounts Receivable Merchandise Inventory Land Plant Assets Accumulated Depreciation Accounts Payable Accrued Liabilities Notes Payable (long-term) Common Stock, no par Retained Earnings September 30 2018 2017 $ 38,000 $ 23,000 43,000 57,000 97,000 95,000 67,000 88,000 165,000 40,000 (54,000) (25,000) 33,000 19,000 10,000 15,000 15,000 14,000 38,000 10,000 260,000 220,000 Print Done Homework: Chapter 14 Homework Save Score: 0.45 of 1 pt 5 of 6 (6 complete) HW Score: 81.31%, 4.88 of 6 pts %E14B-31 (similar to) A Question Help The income statement and additional data of Minerals Plus, Inc. follow: : (Click the icon to view the income statement.) A (Click the icon to view the additional data.) Prepare the spreadsheet for the 2018 statement of cash flows. Format cash flows from operating activities by the indirect method. Use the transaction references in Panel B when selecting the transaction references in Panel A. (If a box is not used in the spreadsheet, leave the box empty; do not select a label or enter a zero. Do not check your answer until both Panel A and Panel B have been completed. Abbreviations used: Acquistion of Plant Assets by Issuing NP = Acquisition of Plant Assets by Issuing Note Payable.) Minerals Plus, Inc. Spreadsheet for Statement of Cash Flows Year Ended September 30, 2018 Balance Transaction Analysis Panel A-Balance Sheet: 9/30/2017 DEBIT CREDIT Balance 9/30/2018 Cash $ 23,000 $ 38,000 57,000 Accounts Receivable Merchandise Inventory Plant Assets 43,000 97,000 95,000 40,000 165,000 Accumulated Depreciation Plant Assets (25,000) 88,000 (54,000) 67,000 Land $ 278,000 $ Total Assets 356,000 19,000 33,000 Accounts Payable Accrued Liabilities 15,000 10,000 Choose from any list or enter any number in the input fields and then click Check Answer. ? Homework: Chapter 14 Homework Save Score: 0.45 of 1 pt 5 of 6 (6 complete) HW Score: 81.31%, 4.88 of 6 pts E14B-31 (similar to) Question Help The income statement and additional data of Minerals Plus, Inc. follow: : (Click the icon to view the income statement.) A (Click the icon to view the additional data.) Prepare the spreadsheet for the 2018 statement of cash flows. Format cash flows from operating activities by the indirect method. voor uw Total Liabilities 48,000 58,000 Common Stock, no par 10,000 38,000 260,000 Retained Earnings 220,000 $ 278,000 $ 356,000 Total Liabilities and Stockholders' Equity Panel B-Statement of Cash Flows: Cash Flows from Operating Activities: (a) Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: (b) (c) (d) (e) (f) Net Cash Provided by Operating Activities Cash Flows from Investing Activities: Choose from any list or enter any number in the input fields and then click Check Answer. ? Homework: Chapter 14 Homework Save Score: 0.45 of 1 pt 5 of 6 (6 complete) HW Score: 81.31%, 4.88 of 6 pts W E14B-31 (similar to) Question Help o The income statement and additional data of Minerals Plus, Inc. follow: E: (Click the icon to view the income statement.) A (Click the icon to view the additional data.) Prepare the spreadsheet for the 2018 statement of cash flows. Format cash flows from operating activities by the indirect method. (d) Net Cash Provided by Operating Activities Cash Flows from Investing Activities: (91) (h) Net Cash Used for Investing Activities Cash Flows from Financing Activities: 6) (1) (k) Net Cash Used for Financing Activities (1) Non-cash Investing and Financing Activities: (92) Total Non-cash Investing and Financing Activities (92) Total Choose from any list or enter any number in the input fields and then click Check
