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Mogale Travel Services, Inc. Comparative Balance Bhosle December 31, 2014 and 2013 Assets 2014 2013 Current asseta: Cash Accounts receivable Inventory Prepaid insurance 11.000 $ 18.000 78,000 79,000 58,000 18,000 9,000 12,000 $ 156,000 $ 127,000 Total current assets Land Equipment Less: Accumulated depreciation $ 105,000 $ 114,000 83.000 57.000 (15,000) (8.000) $ 329,000 $ 290,000 Total assets Llabilities $ Current liabilities: Accounts payable Wages payable Interest payable 28.000 $ 37.000 26,000 24.000 12.000 7 000 11000 4.000 Income taxes payable Total current liabilities $ 73.000 $ 16.000 Notes payable long term 96000 871000 Total liabilities $ 169.0001S 163 000 Stockholders' equity Common stock 129,000000 B1000 8000 Retained earning Total stockholders ISO900 Jotales and equity 20:00 i More Info a. Land was sold for $5,600 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 2014 was $33.000. f. Cash dividends paid during the year were $10.000. Print Done Mosaic Travel Services, Inc. Statement of Cash Flows-Operating Activities Section (Indirect Method) For the Year Ended December 31, 2014 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 continue to the next question The comparative balance sheet for Mosaic Travel Services, Inc., for December 31, 2014 and 2013, is as follows: (Click the icon to view the comparative balance sheet.) The following information is taken from the records of Mosaic Travel Services, Inc... (Click the icon to view the transaction data) Mosaic 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 2014. (Use parentheses or a minus sign for numbers to be subtracted or net cash outflow.) Mosaic Travel Services, Inc. Statement of Cash Flows-Operating Activities Section (Indirect Method) For the Year Ended December 31, 2014 ed or net cash outflow.) Cash from issuing common stock Depreciation expense Dividends paid Loss on sale of land Net income Proceeds on sale of land Purchase of equipment for cash huw Un turung pur and the Save for Later Type here to search fo rave Decrease in accounts payable Decrease in accounts receivable Decrease in income taxes payable Decrease in interest payable Decrease in inventory Decrease in prepaid insurance Decrease in wages payable Increase in accounts payable Increase in accounts receivable Increase in income taxes payable aring Decrease in accounts payable Decrease in accounts receivable Decrease in income taxes payable Decrease in interest payable Decrease in inventory Decrease in prepaid insurance Decrease in wages payable 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 Net casi provided by used for operating activities Choose from any list or enter any number in the input fields and Save for Later Type here to search