Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

eBook Use the following excerpts from Zowleski Company's financial information. Cash Accounts Receivable Merchandise Inventory Plant Assets Accumulated Depreciation Total Assets Dec. 31, 2018 Dec.

eBook Use the following excerpts from Zowleski Company's financial information. Cash Accounts Receivable Merchandise Inventory Plant Assets Accumulated Depreciation Total Assets Dec. 31, 2018 Dec. 31, 2017 $94,500 $85,000 22,000 22,900 138,000 131,000 180,000 150,000 (25,000) (21,000) $409,500 $367,900 Accounts Payable Notes Payable $18,500 $21,000 135,500 120,000 Common Stock 20,000 20,000 Retained Earnings 235,500 206,900 Total Liabilities and Equity $409,500 $367,900 Additional Information: Net Income for 2018 Depreciation Expense for 2018 (Accumulated Depreciation Increase) Plant Assets Purchased (Plant Assets Increase), Finance by Note Notes Payable Increased by Amount of Plant Assets Purchase $28,600 4,000 30,000 30,000 eBook of Plant Assets Purchase Notes Payable Decreased by Amount of Principal Note Payments 30,000 14,500 Prepare a statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Zowleski Company Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2018 Cash Flow from Operating Activities: Adjustments to Reconcile Net Income to Net Cash Flow from Operating Activities: Net Cash Flow from Operating Activities Cash Flow from Financing Activities: Net Cash Flow from Financing Activities Noncash Investing and Financing Activities: 00 00001 0

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

Cpa Financial Accounting Examination Preparation Guide

Authors: Azhar Ul Haque Sario

1st Edition

979-8223666547

More Books

Students also viewed these Accounting questions