Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help understanding what goes in the Indirect Cash flow Statement from the Income Statement and Balance sheet please. Income Statement For the year ended

Need help understanding what goes in the Indirect Cash flow Statement from the Income Statement and Balance sheet please.
image text in transcribed

Income Statement For the year ended December 31, 2024 Business Entity Balance Sheet As of December 31, 2024 Revenue Cost of Goods Sold Gross Profit Other General Expenses Operating Income Depreciation Expense Operating income after depreciation Other income (expense): Interest Expense Non- operating hlcome Pre-tax Income Tax Expense NET INCOME s s s s s 783,850 274,350 509,500 215,000 294,500 150,000 (23,000) (23:000) 121,500 42,500 79,000 ASSETS: Current Assets: Cash Accounts receivable, net Inventory Prepaid Rent Total Cunent Assets Non-Current Assets: Land Property, plant, and equipment, net Total Non-Current Assets TOTAL ASSETS LLxBILITIES: Current Liabilities: Accounts Payable Interest Payable Taxes Payable Total Cunent Liabilities Non-Current Liabilities: Notes Payable Totai Non-Cwrent Liabilities TOTAL OWNERS' EQUITY: Common Stock Retained Earnings TOTAL OWNER'S EQUITY TOTAL LLxBILITIES & OWNER'S EQUITY 2,023 126,800 97,000 sg,ooo 3,000 315,800 530,000 432,000 962,000 94,000 13,800 6,000 113,800 230,000 230,000 343,800 750,000 184,000 934,000 Statement of Cash Flows For the year ended December 31, 2024 OPERATING ACTIVITIES: ash Flows From Operating Activities INVESTING ACTIVITIES: Cash Flows From Investing Activities FINANCING ACTIVITIES: Cash Flows From Financing Net Cash Flows Jun e 2,024 108,900 82,000 105,000 6,000 301,900 530,000 392,000 922,000 109,000 6,900 10,000 125,900 115,000 115,000 240,900 750,000 233,000 983,000

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

Japanese Management Accounting Today Japanese Management And International Studies Volume 2

Authors: Masanobu Kosuga, Yasuhiro Monden, Shufuku Hiraoka, Yoshiyuki Nagasaka, Noriko Hoshi

1st Edition

9812700811, 978-9812700810

More Books

Students also viewed these Accounting questions