Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Health Plus, Inc. Statement of Cash Flows Year Ended September 30, 2024 Cash Flows from Operating Activities: Net Income 43450 Adjustments to Reconcile Net Income
Health Plus, Inc. Statement of Cash Flows Year Ended September 30, 2024 Cash Flows from Operating Activities: Net Income 43450 Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: \begin{tabular}{|l|r|} \hline Depreciation Expense-Plant Assets \\ \hline Increase in Accounts Payable \\ \hline Increase in Merchandise inventory \\ \hline Decrease in Accounts Receivable \\ \hline Decrease in Accrued Liabilities \\ \hline & (93000) \\ \hline \end{tabular} Net Cash Provided by (Used for) Operating Activities Cash Flows from investing Activities: Net Cash Provided by (Used for) Investing Activities Cash Flows from Financing Activities: Net Cash Provided by (Used for) Financing Activities Net increase (Decrease) in Cash Cash Balance, September 30, 2023 Cash Balance, September 30, 2024 Non-cash Investing and Financing Activities: Total Non-cash Investing and Financing Activities Health Plus, Inc. Income Statement Year Ended September 30, 2024 Net Sales Revenue $234,00092,000142,000 Cost of Goods Sold Gross Profit $59,000 Salaries Expense 28,000 Depreciation Expense-Plant Assets Total Operating Expenses 87,000 Net Income Before Income Taxes 55,000 Income Tax Expense 11,550 Net Income 43,450 Print Done a. Acquisition of plant assets is $122,000. Of this amount, $109,000 is paid in cash and $13,000 by signing a note payable. b. Cash receipt from sale of land totals $27,000. There was no gain or loss. c. Cash receipts from issuance of common stock total $31,000. d. Payment of note payable is $12,000. e. Payment of dividends is $12,000. f. From the balance sheet
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started