Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lala land Company has the following financial information: Balance Sheets Dec. 31, Dec. 31, 2020 2021 134,500 35,000 200,600 175,500 22,000 20,000 420,000 205,000 250.000

image text in transcribed
image text in transcribed
Lala land Company has the following financial information: Balance Sheets Dec. 31, Dec. 31, 2020 2021 134,500 35,000 200,600 175,500 22,000 20,000 420,000 205,000 250.000 Cash 152,400 Accounts receivable 33.200 Inventory Prepaid Expenses Long term Investments 300,000 Plant Property and Equipment (net) Accounts payable Short term notes payable Taxes payable Long term liabilities Stockholders' Equity 98,600 105,000 62,000 40,000 35,600 13,500 134,000 140,000 628,000 691,500 Income statement Sales revenue $570,000 300.000 $ 270,000 13,000 Cost of goods sold Gross profit Depreciation Expense Other operating costs Loss on sale of plant assets Net Income for the year 166,500 2.000 S 88,500 Required: Calculate the cash flow from operating activities, for the year ended December 31, 2021. using the Indirect method (Note: write your answer as a number only, with No dollar signs or commas) Answer: Lala land Company has the following financial Information: Balance Sheets Dec. 31, Dec. 31, 2021 2020 Cash 152,400 134,500 33,200 35,000 200,600 175,500 22,000 20.000 300,000 420,000 250,000 205,000 Accounts receivable Inventory Prepaid Expenses Long term Investments Plant, Property and Equipment (net) Accounts payable Short term notes payable Taxes payable Long term liabilities Stockholders' Equity 98,600 105,000 62,000 40,000 35,600 13,500 134,000 140.000 628,000 691,500 $570,000 300,000 $ 270,000 Income statement Sales revenue Cost of goods sold Gross profit Depreciation Expense Other operating costs Loss on sale of plant assets Net Income for the year 13,000 166,500 2,000 $ 88,500 Required: Calculate the cash flow from operating activities, for the year ended December 31, 2021, using the Indirect method. (Note: write your answer as a number only, with No dollar signs or commas)

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

Credit Repair How To Repair Your Credit All By Yourself A Beginners Guide To Better Credit

Authors: Ernie Braveboy

1st Edition

1981032878, 978-1981032877

More Books

Students also viewed these Accounting questions

Question

Demonstrate three aspects of assessing group performance?

Answered: 1 week ago