Inbox (2) - pragmax Assignment Graded: Module 4 X Module 6 Wiley Plus Homework X NWP Assessment Player AX 7b4ald-e1b7-4055-9560-9ad0c45684038/question/ > -/1 TI Question 2 of 3 View Policies Current Attempt in Progress Comparative balance sheets for Cullumber Company are presented as follows. Cullumber Company Comparative Balance Sheets December 31 Assets 2019 Cash $72.000 Accounts receivable 84,000 Inventory 179.000 Land 74,000 Equipment 249,000 Accumulated depreciation equipment 165,000) Total $593,000 Liabilities and Stockholders' Equity Accounts payable $33.000 Bonds payable 149.000 Common stock $1 par) 213.000 Retained earnings 198.000 Total 5593.000 2018 $21.000 75,000 188.000 100,000 199,000 (41,000) $542.000 $46.000 199.000 163.000 134,000 $542.000 Additional information 2 3 Net income for 2019 was $134.000 Cash dividends of $70,000 were declared and paid. Bonds payable amounting to $50.000 were redeemed for each $50.000 Common stock was sued for $50,000 cash Depreciation expense was $24.000 Sales revenue for the year were 5976,000 Land was sold at cost and equipment was purchased for cash 5 7 Prepare a worksheet for a statement of cash flows for 2019 using the indirect method. Enter the reconciling item directly on the worksheet. (Show amounts that decrease cash flow with either a signes -15.000 or in parenthesis es (15.000 Cullumber Company Worksheet Statement of Cash Flows For the 2014 Reconcilings Balance Sheet Account Credit Debit Accounts recevable -455-95b0-9ad0c45b84e3/question/ Question 2 of 3 -/1 II Prepare a worksheet for a statement of cash flows for 2019 using the indirect method. Enter the reconciling items directly on the worksheet. (Show amounts that decrease cash flow with either a-signes -15,000 or in parenthesis es (15,000 Cullumber Company Worksheet Statement of Cash Flows For the Year Ended December 31, 2019 Reconciling Items Balance Sheet Accounts Balance 12/31/18 Debit Credit Debits Cash Accounts receivable Inventory Land Equipment Total Credits Accumulated depreciation-equipment Accounts payable Bonds payable Common stock Retained earnings Total Statement of Cash Flow Effects -/1 E ter the reconciling items directly on the thesis es (15,000) dit Balance 12/31/19 Accounts payable Bonds payable Common stock Retained earnings Total Statement of Cash Flow Effects Totals Total Textbook and Media Attempts of used Inbox (2) - pragmax Assignment Graded: Module 4 X Module 6 Wiley Plus Homework X NWP Assessment Player AX 7b4ald-e1b7-4055-9560-9ad0c45684038/question/ > -/1 TI Question 2 of 3 View Policies Current Attempt in Progress Comparative balance sheets for Cullumber Company are presented as follows. Cullumber Company Comparative Balance Sheets December 31 Assets 2019 Cash $72.000 Accounts receivable 84,000 Inventory 179.000 Land 74,000 Equipment 249,000 Accumulated depreciation equipment 165,000) Total $593,000 Liabilities and Stockholders' Equity Accounts payable $33.000 Bonds payable 149.000 Common stock $1 par) 213.000 Retained earnings 198.000 Total 5593.000 2018 $21.000 75,000 188.000 100,000 199,000 (41,000) $542.000 $46.000 199.000 163.000 134,000 $542.000 Additional information 2 3 Net income for 2019 was $134.000 Cash dividends of $70,000 were declared and paid. Bonds payable amounting to $50.000 were redeemed for each $50.000 Common stock was sued for $50,000 cash Depreciation expense was $24.000 Sales revenue for the year were 5976,000 Land was sold at cost and equipment was purchased for cash 5 7 Prepare a worksheet for a statement of cash flows for 2019 using the indirect method. Enter the reconciling item directly on the worksheet. (Show amounts that decrease cash flow with either a signes -15.000 or in parenthesis es (15.000 Cullumber Company Worksheet Statement of Cash Flows For the 2014 Reconcilings Balance Sheet Account Credit Debit Accounts recevable -455-95b0-9ad0c45b84e3/question/ Question 2 of 3 -/1 II Prepare a worksheet for a statement of cash flows for 2019 using the indirect method. Enter the reconciling items directly on the worksheet. (Show amounts that decrease cash flow with either a-signes -15,000 or in parenthesis es (15,000 Cullumber Company Worksheet Statement of Cash Flows For the Year Ended December 31, 2019 Reconciling Items Balance Sheet Accounts Balance 12/31/18 Debit Credit Debits Cash Accounts receivable Inventory Land Equipment Total Credits Accumulated depreciation-equipment Accounts payable Bonds payable Common stock Retained earnings Total Statement of Cash Flow Effects -/1 E ter the reconciling items directly on the thesis es (15,000) dit Balance 12/31/19 Accounts payable Bonds payable Common stock Retained earnings Total Statement of Cash Flow Effects Totals Total Textbook and Media Attempts of used
