Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If you could include an explanation on how to complete this or just the steps you use to get the numbers needed that would be

If you could include an explanation on how to complete this or just the steps you use to get the numbers needed that would be great .Thank you!

image text in transcribedimage text in transcribedimage text in transcribed

S14-8 (similar to) : Question Help Kyler Media Corporation had the following income statement and balance sheet for 2018: : (Click the icon to view the income statement.) : (Click the icon to view the balance sheet.) During the year Kyler issued a $5,000 note payable. Kyler acquired equipment worth $19,000, and made payments on the long-term notes payable in the amount of $9,000 during the year. Assume the company paid cash for the acquisition of plant assets. Prepare Kyler Media's statement of cash flows-indirect methodfor the year ended December 31, 2018 Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty, do not select a label or enter a zero.) Data Table - X Kyler Media Corporation Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Kyler Media Corporation Income Statement Year Ended December 31, 2018 Sales Revenue $ Depreciation Expense-Plant Assets 82,000 18,000 51,000 13,000 Other Expenses $ Net Income Net Cash Provided by (Used for) Operating Activities Print Done Choose from any list or enter any number in the input fields and then click Check Answer. A Data Table Kyler Media Corporation Comparative Balance Sheet December 31, 2018 and 2017 Assets 2018 2017 Current Assets Cash 5,400 $ 9,100 3,600 7,600 Accounts Receivable Long-term Assets: Plants Assets Accumulated Depreciation Plant Assets 106,350 (32,350) 88,500 $ 87,350 (14,350) 84,200 $ Total Assets Liabilities Current Liabilities: $ 9,000 $ 3,500 Accounts Payable Long-term Liabilities: 7,000 Notes Payable 11,000 Print Done Data Table ACCOUNTS Receivable Y, TUUT,000 Long-term Assets: Plants Assets 106,350 (32,350) 87,350 (14,350) Accumulated DepreciationPlant Assets $ 88,500 $ 84,200 Total Assets Liabilities Current Liabilities: Accounts Payable $ 9,000 $ 3,500 Long-term Liabilities: 7.000 11,000 16,000 14,500 Notes Payable Total Liabilities Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity 25,000 47,500 72,500 88,500 $ 16,000 53,700 69,700 84,200 $ Total Liabilities and Stockholders' Equity Print Done

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_2

Step: 3

blur-text-image_3

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

Management Audit Maximizing Your Companys Efficiency And Effectiveness

Authors: John Nolan

1st Edition

0801975581, 978-0801975585

More Books

Students also viewed these Accounting questions