I need the solution of this problem that has 2 questions and they are related
and please check the slution template which the Proff. provided
I will like the answer directly..
Typed only please... I really have issues with written contents
Thank you
Solution Template
Question. 1. From the following prepare cash flow statement using - Indirect method of Cash from operations (9 Marks) (Note: 1. You can read the files Topic 5 Case study cash flow.xlsx and Topic 5 Statement of Cash Flows.pptx, for solving the problen (Note: 2. Show the working in a separate worksheet) Alpha Company IC Balance Sheet December 31, 2019 and 2020 Assets Liabilities 2020 2019 2020 2019 Current Assets: Current Liabilities 22000 22000 Cash and cash equivalents Accounts receivable Inventory Total Current Assets Equipment net 35000 /9000 12600 3000 Accounts payable 23000 Acccrued liabilities 34000 Income Tax payable 60000 Total current liabilities 72000 Ronds payable 35000 7000 10000 52000 84000 26000 9000 10000 45000 53000 Stockholders Equity Commonstock Retained camnings Treasury stock 520001 27000 1100001 20000 19000 (5000) 2050001 132000 205000 132000 Transaction data for 2020 Purchase of equipment payment of dividends Issuance of common stock to retire bonds payable Issuance of bonds payable to borrow cash Cash receipt from issuance of common stock Cash receipt from sale of cquipment book value $76000) Purchase of treasury stock 140000 18000 13000 14000 19000 74000 5000 Income Statement For the Year Ended Decernber 2020 Revenue and gains 662000 560000 102000 46000 10000 2000 Net sales Cost of goods sold Gross profit Operating expenses Salary expenses Depreciation expenses Rent expenses Total operating expenses Income from operations Other items: Loss on sale of equipment Income before income tax Income Tax expenses Net Income 58000 440001 (2000) 42000 16000 25000 Question 2 Write short notes on accounting, adjustment entries of 1. Prepaid expenses 2. Depreciation FORMAT FOR CASH FLOW STATEMENT : INDIRECT METHOD. I (Plus or minus)Cash flows from operating activities Amount Amount 0 Net income Adjustments to reconcile net income to net cash provided by operating income Operating activities: +Depreciation / amortization of expenses + loss on sale of long term assets -profit on sale of long term assets -increase in current assets other than cash +decrease in current assets other than cash +increase in current liabilities -Decrease in current liabilities Net cash provided (used for) operating activities 0 11 (plus/minus)Cash flows from Investing activities -Purchase of long term assets + cash from sale of long-term assets (plant, investments, land, building,equipment) +Interest received +Dividends received Net cash used in investing activities 0 Cash flows from Financing activities +cash receipts from issue of share capital + cash receipts from issue of notes/bonds payable(borrowings) - payment of notes/bonds payable -payment of dividend Net cash used in financing activities 0 0 =Net Increase/(Decrease) in cash and cash equivalents +Cash/ cash equivalent at the start of the period =Cash/Cash equvalent at the end of the period 0
