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Need help below. NEED HELP WITH SECOND PICTURE. Keeps saying that answer is not complete, but I'm unsure of what is still missing. Need Suppose
Need help below. NEED HELP WITH SECOND PICTURE. Keeps saying that answer is not complete, but I'm unsure of what is still missing. Need
Suppose the income statement for Goggle Company reports $151 of net income, after deducting depreciation of $21. The company bought equipment costing $130 and obtained a long-term bank loan for $136. The company's comparative balance sheet, at December 31, is presented here. Required: 1. Calculate the change in each balance sheet account and indicate whether each account relates to operating, investing, and/or financing activities (+ for increase and - for decrease). 2. Prepare a statement of cash flows using the indirect method. 6. Are the cash flows typical of a start-up, healthy, or troubled company? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 6 Calculate the change in each balance sheet account and indicate whether each account relates to operating, investing, and/or financing activities (+ for increase and - for decrease). (Select "NE" if there is no effect. Enter all amounts as positive values.) Cash Accounts Receivable + Change Type + 299 Cash 114 Operating 181 Operating 130 Investing + 21 Operating -- + Inventory Equipment Accumulated Depreciation Equipment Total JE Previous Year Current Year $ 49 $ 348 89 203 330 149 570 700 (31) (52) $ 1,007 $ 1,348 $ 24 $ 78 459 595 24 24 500 651 $ 1,007 $ 1,348 + 54 Operating 136 (Financing + Salaries and Wages Payable Notes Payable (long-term) Common Stock Retained Earnings NE + 151 Operating Total Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 6 Prepare a statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) GOGGLE COMPANY Statement of Cash Flows $ 151 For the Year Ended December 31 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation $ 21 Changes in Current Assets and Current Liabilities Increase in Accounts Receivable (114) 181 Decrease in Inventory Increase in Salaries and Wages Payable 00 54 293 Net Cash Provided by Operating Activities Cash Flows from Investing Activities: Equipment Purchased (130) . (130) Net Cash Used in Investing Activities Cash Flows from Financing Activities: Obtained Bank Loan > 136 Net Cash Provided by Financing Activities 136 299 Net Increase in Cash Cash, Beginning of Current Year Cash, End of Current Year OOOO 49 $ 348Step by Step Solution
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