Managerial Accounting-Fall 2018-9 AM Section lomework: Cash Flow Statement ore: 0 of 1 pt 6 of 7 (4 complete) E13-17A (similar to) ajestic Event Corporation is preparing its statement of cash flows for the past year. The company has gathered the following information about the past year just ended on December 31 (Click the icon to view the data.) equirement epare a statement of cash flows for the past year using the indirect method. epare the statement one section at a time. (Use parentheses or a minus sign for numbers to be subtracted or for a net cash outflow.) Majestic Event Corporation Statement of Cash Flows (Indirect Method) For the Year Ended December 31 Operating Activities: Adjustments to reconcile net income to cash basis s for the past year. The company has gathered the following information about the past year just ended on December 31. irect method. or a minus sign for numbers to be subtracted or for a net cash outflow.) i Data Table Retire bond payable (long-term)S 11,000 Decrease in accounts receivable......5,000 33,000 Increase in salaries payable 8,000 R.$15,000 REERI600 $5,000 PPPSOO 1,000 Paid dividends in cash. $ Decrease in inventorys 9,000 Depreciation expense Decrease in accounts payable Sold land (investment) . . . . . . . . . . . . $ 19,000 Decrease in other short-term liabilities Increase in interest payableAS 400 ncrease in taxes payable Cash balance, beginning of year 91,000 Purchase of new computer system with cash..$ 16,000 Net income 6,000 Increase in prepaid insurance444 89,000 oom Print Done t fialde and then click Check Answer Prepare a statement of cash flows for the past year using Dragon Corporation Statement of Cash Flows (Indire For the Year Ended Decem Operating Activities Net income Adjustments to reconcile net income to cash basis Depreciation expense Decrease in accounts receivable Decrease in inventory Increase in prepaid insurance Decrease in accounts payable Decrease in other short-term liabilities Increase in salaries payable Increase in interest payable Increase in taxes payable Net cash provided by (used for) operating activities Investing Activities: Proceeds from sale of land Purchase of new computer system Net cash provided by (used for) investing activities Financing Activities This question is complete. Move your cursor over or tap All parts showing Decrease in inventory Increase in prepaid insurance Decrease in accounts payable Decrease in other short-term liabilities Increase in salaries payable Increase in interest payable Increase in taxes payable Net cash provided by (used for) operating activities Investing Activities: Proceeds from sale of land Purchase of new computer system Net cash provided by (used for) investing activities Financing Activities Payment of dividends Retire bond payable Net cash provided by (used for) financing activities Net increase (decrease) in cash Cash, beginning of the year Cash, end of the year This question is complete. Move your cursor over or tap All parts showing