Flag question Below is the information related to Max s and Cody's Shop. Create a statement of cash flows and then advance to the following pages to answer the multiple choice questions using your SCF. 1. Net income for 2021 was $1.600. 2. Dividends paid during 2021 were $400. 3. Equipment costing $7,000 with accumulated depreciation of $1,000 was sold for $4,000, 4. No land was sold. Land was purchased for $1,900. 5. $3,200 worth of old bonds were paid off during 2021. 6. $10,300 of new bonds were issued during 2021 7. New shares of stock (including paid-in-capital) were sold for $2,600. 8. Treasury shares of $1,500 were acquired and $200 of treasury shares were reissued 12/31/2021 12/31/2020 Diff. Cash 11,200 4,000 7,200 Accounts Receivable 6,800 5,700 1,100 All. for Doubtful Accounts (800) (300) (500) Prepaid Insurance 2,000 3,500 (1,500) Supplies 4,200 4,100 100 Equipment 15,000 10,000 5,000 Accumulated Depreciation (7,700) (4,000) (3,700) Land 5,100 3,200 1,900 Total Assets 35,800 26,200 Accounts Payable Salaries and Wages Payable Bonds Payable Common Stock Paid-in-Capital Retained Earnings Treasury Stock 4,000 500 12,300 14,000 1,200 5,200 (1,400) 4,400 100 5,200 12,000 600 4,000 (100) (400) 400 7,100 2,000 600 1,200 (1,300) 17 How Falconectat pel handed on esitent law Statement of East Flis MC M TO Subiracted one of Added in the resting schon Subtracted on the tiny lection d Added The aim on bitrated the financing action Framt Id 10.10 Le 18 flow it throunce at bons hanted on tot cach tow Aeted Select one Suttracted from the incing section Added in the investing sedan sul tracted from the instinction 1 Added in the coerating section Added in the financing section What is net cach towancing activities 19 Pro hel Mart 6.00 $8.800 S9.000 17200 d. $9.000 e $9.500 Next page Previous page WILAI RECORD X 20 D Wuscandow.operating i cuir rongition too 57.100 TO 55100 $300 Balance Sheet nuotation Balance Sheet Me 21 Winof the followight about the statement a car o Tel 1031 Se of Paddelthie pertraction Pardave subtracted in the mention swange of hodol added in the section d Payment of dividends is suitacted in the net section Action of sury stock is added in the final serta Statement on cash Flows Information 22 Hiwin decrease prepaid tuhanded on the statement of canh How Statement of Cash Fiows MC 16 5 10 fo 113 Subtrated from the operating section Alded in the investing section Subtracted from the investing section d Added in the operating section Subtracted from the financing section un att Time 1:09:02 23 How much equipment was purchased in 2001 51.00 $6300 tor 217 67444 - ACCT305-W-INTERMEDIATE ACCOUNTING! 25 What is the Depreciation I spens for the best Vattest Balance Sheet information $1.000 b5700 +55 100 S300 $4.700 Balance Sheet Me 12 5 5 Finish attempt 101 121 Previous page Statement of Cash Flows Information Statement of Cash Flows MC 19 20 21 22 23 16 17 Finish attempt Time left 1:08:01 WAMICA X 22 Statement of a Flows MC 000 10 Madu 3.00 Subtracted from the orition Added in the meting con Subtracted from the invention di And in the operating section e Sobre Troen the finanti Section TIN TL 100.20 U23 How muchement was purchased-20211 used action $1300 b$6.100 11500 d 512000 55.000 24 What is the gain or loss on the sale of the equipment NO sharedoute Game of $300 b Gath of 2000 Loss of 52000 d loss of $5.000 Gain of $5.000 ution Next page Previous page ; wigation 15 What is net cash flows from investing activities? Not yet Marredo 100 Foto $9.900) (56.100) C($12.900) Cd150.000) $9,900 Balance Sheet information Balance Sheet MC 1 4 . O 16 Which of the following is faise about the statement of cash flows? Noy 10 11 12 13 14 a and out of 5.00 Focusbon Net Income is added in the operating section Depreciation Expense is added in the operating section loss on Sale of Equipment is subtracted in the operating section d Increases in current liablites are added in the operating section Decreases in current assets are added in the operating section Statement of Cash Flows Information wel 17 How is a loss on sale of equipment handled on the statement of cash flow? Statement of Cash Flows MC 151 152 1920212222 Netw answered Marted out at 500 24 25 a. Subtracted from the operating section b. Added in the investing section Subtracted from the investing section d Added in the operating section Subtracted from the financing section Finish attempt lagu Timelet 1:09:40 18 How is the issuance of bonds handled on the statement of cash flow