omework: Cash Flow Statement Save core: 0 of 1 pt 1 of 7 (3 complete) Hw Score: 41.56%, 2.91 017 pt 13-12A (similar to) Question Help * The comparative balance sheet for Majestic Travel Services, Inc., for December 31, 2017 and 2016, is as follows: EEB (Click the icon to view the comparative balance sheet.) The following information is taken from the records of Majestic Travel Services, Inc (Click the icon to view the transaction data.) Majestic Travel Services, Inc., uses the indirect method for preparing the statement of cash flows. Prepare the operating section of the statement of cash flows for 2017. (Use parentheses or a minus sign for numbers to be subtracted or net cash outflow.) Operating Activities: Adjustments to reconcile net income to cash basis: Net cash provided by (used for) operating activities Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All Check Answer 1 of 7 (3 complete) HW Score: 4 et for Balance Sheet ken tran Majestic Travel Services, Inc. Comparative Balance Sheets December 31, 2017 and 2016 Assets use e statement o 2017 2016 Current assets Cash Accounts receivable et inc 42,000$ 15,000 82,000 87,000 55,000 23,000 8,000 14,000 $ 187,000 $ 139,000 Prepaid insurance Total current assets S 103,000 $ 120,000 84,000 60,000 (21,000) (14,000) $ 353,000 $ 305,000 Land Less: Accumulated depreciation used for) Total assets enter any Print Done Check Answer ase in prepaid insurance (17000-11000) ease in accounts payable (30000-23000) ase in wages payable (33000-22000) 6000 7000 11000 F9 or Majestic Travel Services, Inc., for December 31, 2017 and 2016, is as follows: mparative balance sheet.) from the records of Majestic Travel Services, Inc.: ansaction data.) es the indirect method for preparing the statement of cash flows. Prepare the operating section us sign for nup Transactions come to cash a. Land was sold for $13,400. b. Equipment was purchased for cash. c. There were no disposals of equipment during the year d. The common stock was issued for cash. e. Net income for 2017 was $34,000 f. Cash dividends paid during the year were $9,000. Print Done r) operating activities Managerial Accounting-Fall 2018-9 AM Section Homework: Cash Flow Statement Score: 0 of 1 pt E1 1 of 7 (3 co Cash used to purchase equipment Th Decrease in accounts payable Th Decrease in income taxes payable Ma Decrease in inventory c., for December 31, 2 Travel Services, Inc. paring the statement of Decrease in accounts receivable Decrease in interest payable 20 Decrease in prepaid insurance tracted or net cash out Decrease in wages payable Depreciation expense Dividends paid Increase in accounts payable Increase in accounts receivable Increase in income taxes payable Increase in interest payable Increase in inventory Increase in prepaid insurance Increase in wages payable Issuance of stock for cash Loss on sale of land Net income Net cash provided by (used for) operating activities fields and then click Check omework: Cash Flow Statement Save core: 0 of 1 pt 1 of 7 (3 complete) Hw Score: 41.56%, 2.91 017 pt 13-12A (similar to) Question Help * The comparative balance sheet for Majestic Travel Services, Inc., for December 31, 2017 and 2016, is as follows: EEB (Click the icon to view the comparative balance sheet.) The following information is taken from the records of Majestic Travel Services, Inc (Click the icon to view the transaction data.) Majestic Travel Services, Inc., uses the indirect method for preparing the statement of cash flows. Prepare the operating section of the statement of cash flows for 2017. (Use parentheses or a minus sign for numbers to be subtracted or net cash outflow.) Operating Activities: Adjustments to reconcile net income to cash basis: Net cash provided by (used for) operating activities Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All Check Answer 1 of 7 (3 complete) HW Score: 4 et for Balance Sheet ken tran Majestic Travel Services, Inc. Comparative Balance Sheets December 31, 2017 and 2016 Assets use e statement o 2017 2016 Current assets Cash Accounts receivable et inc 42,000$ 15,000 82,000 87,000 55,000 23,000 8,000 14,000 $ 187,000 $ 139,000 Prepaid insurance Total current assets S 103,000 $ 120,000 84,000 60,000 (21,000) (14,000) $ 353,000 $ 305,000 Land Less: Accumulated depreciation used for) Total assets enter any Print Done Check Answer ase in prepaid insurance (17000-11000) ease in accounts payable (30000-23000) ase in wages payable (33000-22000) 6000 7000 11000 F9 or Majestic Travel Services, Inc., for December 31, 2017 and 2016, is as follows: mparative balance sheet.) from the records of Majestic Travel Services, Inc.: ansaction data.) es the indirect method for preparing the statement of cash flows. Prepare the operating section us sign for nup Transactions come to cash a. Land was sold for $13,400. b. Equipment was purchased for cash. c. There were no disposals of equipment during the year d. The common stock was issued for cash. e. Net income for 2017 was $34,000 f. Cash dividends paid during the year were $9,000. Print Done r) operating activities Managerial Accounting-Fall 2018-9 AM Section Homework: Cash Flow Statement Score: 0 of 1 pt E1 1 of 7 (3 co Cash used to purchase equipment Th Decrease in accounts payable Th Decrease in income taxes payable Ma Decrease in inventory c., for December 31, 2 Travel Services, Inc. paring the statement of Decrease in accounts receivable Decrease in interest payable 20 Decrease in prepaid insurance tracted or net cash out Decrease in wages payable Depreciation expense Dividends paid Increase in accounts payable Increase in accounts receivable Increase in income taxes payable Increase in interest payable Increase in inventory Increase in prepaid insurance Increase in wages payable Issuance of stock for cash Loss on sale of land Net income Net cash provided by (used for) operating activities fields and then click Check