Please help check my answers and ones not filled.
The income statement and additional data of
Daily Plus, Inc. follow:
Use the transaction references in Panel B when selecting the transaction references in Panel A. (If a box is not used in the spreadsheet, leave the box empty; do not select a label or enter a zero. Do not check your answer until both Panel A and Panel B have been completed. Abbreviations used: Acquistion of Plant Assets by Issuing NP = Acquisition of Plant Assets by Issuing Note Payable.)
i More Info b. a. Acquisition of plant assets is $124,000. Of this amount, $108,000 is paid in cash and $16,000 by signing a note payable. Cash receipt from sale of land totals $20,000. There was no gain or loss. c. Cash receipts from issuance of common stock total $36,000. d. Payment of note payable is $15,000. Payment of dividends is $5,000. f. From the balance sheet: . September 30 2018 2017 Cash $ $ 39,000 46,000 94,000 82,000 214,000 Accounts Receivable Merchandise Inventory Land Plant Assets Accumulated Depreciation Accounts Payable Accrued Liabilities Notes Payable (long-term) Common Stock, no par Retained Earnings (61,000) 32,000 13,000 61,000 88,000 102,000 90,000 (34,000) 15,000 20,000 15,000 4,000 266,000 12,000 16,000 40,000 314,000 Print Done i More Info b. a. Acquisition of plant assets is $124,000. Of this amount, $108,000 is paid in cash and $16,000 by signing a note payable. Cash receipt from sale of land totals $20,000. There was no gain or loss. c. Cash receipts from issuance of common stock total $36,000. d. Payment of note payable is $15,000. Payment of dividends is $5,000. f. From the balance sheet: . September 30 2018 2017 Cash $ $ 39,000 46,000 94,000 82,000 214,000 Accounts Receivable Merchandise Inventory Land Plant Assets Accumulated Depreciation Accounts Payable Accrued Liabilities Notes Payable (long-term) Common Stock, no par Retained Earnings (61,000) 32,000 13,000 61,000 88,000 102,000 90,000 (34,000) 15,000 20,000 15,000 4,000 266,000 12,000 16,000 40,000 314,000 Print Done Daily Plus, Inc. Spreadsheet for Statement of Cash Flows Year Ended September 30, 2018 Balance Transaction Analysis Balance 9/30/2018 Panel A-Balance Sheet: 9/30/2017 DEBIT CREDIT Cash $ |(a) 28000 13000|| (b) Accounts Receivable Merchandise Inventory Plant Assets 8,000 56,000 91,000 (b) 75,000 (c) 36,000 43,000 96,000 199,000 5000 124000 Accumulated Depreciation-Plant Assets 48000|| (d) (12,000) 105,000 323,000 (36,000) 83,000 Land 22000 (e 421,000 Total Assets 28,000 10000|| (f) 38,000 21,000 (91) 7000 Accounts Payable Accrued Liabilities Notes Payable Total Liabilities 14,000 14,000 13,000 13000 16000 (92) 62,000 66,000 Common Stock, no par 35000|| (h) 6,000 255,000 41,000 314,000 Retained Earnings 323,000 421,000 Total Liabilities and Stockholders' Equity Panel B-Statement of Cash Flows: Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation ExpensePlant Assets Decrease in Accounts Receivable Increase in Merchandise Inventory Increase in Accounts Payable Decrease in Accrued Liabilities Net Cash Provided by Operating Activities Cash Flows from Investing Activities: Cash Payment for Acquisition of Plant Assets Cash Receipt for Sale of Land Net Cash Used for Investing Activities Cash Flows from Financing Activities: Cash Payment of Notes Payable I Cash Receipt from Issuance of Common Stock Cash Payment of Dividends Net Cash Used for Financing Activities Net Increase in Cash Non-cash Investing and Financing Activities: Acquisition of Plant Assets by Issuing NP Total Non-cash Investing and Financing Activities (92) Total Choose from any list or enter any number in the input fields and then continue to the next
