Answered step by step
Verified Expert Solution
Question
1 Approved Answer
More Info - X In addition, the following information is available: Accounts Payable balances resulted from merchandise inventory purchases. The book value of the equipment
More Info - X In addition, the following information is available: Accounts Payable balances resulted from merchandise inventory purchases. The book value of the equipment was $13,100. Signed a 7%, 10-year note payable in exchange for a building with a market value of $86,000. Issued 2,000 new common shares at $10 per share. Print Done Comparative selected account balances and an unclassified income statement for PBJ Company follow: (Click the icon to view the account balances.) (Click the icon to view the income statement.) (Click the icon to view additional information.) Requirements Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use parentheses or a minus sign for numbers to be subtracted.) PBJ Company Statement of Cash Flows For the Year Ended December 31, 2015 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: Net cash provided by (used for) operating activities Cash flows from investing activities: Net cash provided by (used for) investing activities Cash flows from financing activities: Net cash provided by (used for) financing activities Net increase (decrease) in cash during the year Choose from any list or enter any number in the input fields and then continue to the next question. Data Table PBJ Company Data Table PBJ Company Income Statement For the Year Ended December 31, 2015 - X Account Balances as at December 31 Sales $ 243,000 Cost of Goods Sold Wages $ 180,500 43,900 Supplies 5,400 2015 2014 Property Taxes 2,900 Cash $ 29,200 $ 4,400 Utilities 2.200 Accounts Receivable 34,700 18,200 Inventory 14,600 20,600 Loss on Disposal of Equipment Depreciation of Capital Assets 4,700 3,200 242,800 Accounts Payable 15,300 19,400 200 Wages Payable 3,500 600 Net Income Print Done Requirements 1. Prepare statement of cash flows for PBJ, using the indirect method. 2. Prepare the cash flow from operating activities section by using the direct method. Print Done Comparative selected account balances and an unclassified income statement for PBJ Company follow: (Click the icon to view the account balances.) (Click the icon to view additional information.) Requirements Cash balance, December 31, 2014 Cash balance, December 31, 2015 (Click the icon to view the income statement.) Noncash investing and financing activities: Requirement 2. Prepare the cash flow from operating activities section by using the direct meth PBJ Company Statement of Cash Flows For the Year Ended December 31, 2015 Cash flows from operating activities: Receipts: Total cash receipts Payments: Total cash payments Net cash provided by (used for) operating activities Choose from any list or enter any number in the input fields and then continue to the next question. Data Table Data Table PBJ Company Income Statement For the Year Ended December 31, 2015 - X PBJ Company Account Balances as at December 31 Sales $ 243,000 Cost of Goods Sold Wages $ 180,500 43,900 Supplies 5,400 2015 2014 Property Taxes 2,900 Cash $ 29,200 $ 4,400 Utilities 2,200 Accounts Receivable 34,700 18,200 Inventory 14,600 20,600 Loss on Disposal of Equipment Depreciation of Capital Assets 4,700 3,200 242,800 Accounts Payable 15,300 19,400 $ 200 Wages Payable 3,500 600 Net Income Print Done Requirements 1. Prepare a statement of cash flows for PBJ, using the indirect method. 2. Prepare the cash flow from operating activities section by using the direct method. Print Done
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started