Answered step by step
Verified Expert Solution
Link Copied!

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

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
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

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

No Nonsense Project Auditing A Practical Guide For The PMO

Authors: Lisa Nash

1st Edition

0993403522, 978-0993403521

More Books

Students also viewed these Accounting questions