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Please help! D 1 Harian Mining Co, has recently decided to go public and has hired you as an independent CPA. One statement that the
Please help!
D 1 Harian Mining Co, has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. 2 Financial statements of Harian Mining Co. for 2019 and 2018 are provided below. 3. BALANCE SHEETS 4 12/31/2019 12/31/2018 5 cash 5408,000 $192,000 6 Accounts receivable 360,000 216,000 7 Inventory 384,000 180,000 8 Property, plant and equiment S60 000 5960,000 9 tew accumulated depreciation 120,000 288,000 100,000 56,000 10 $1.410,000 51.544,000 11 12 Accounts payable $176,000 $96.000 13 Income taxes payable 352.000 392.000 14 Bonds payable 360,000 600,000 15 Common stock 216,000 216,000 16 Retained caring 136,000 200,000 $1,440,000 $1,544,000 18 COME STATEMENT ar the Year Ended December 31, 2019 steven $8,400,000 ost of sales 2,152,000 toss profit 1,248,000 elling expenses $600,000 administrative expenses 192,000 792.000 income from operations 456,000 Sther losses 72,000 Income before te 384,000 Income taxes 95.000 Net Income $288.000 The following additional data were provided 1 Dividends for the year 2019 wire 5192,000 2. During the ye, equipment was sold for $200.000. The cost $352.000 originally and had a book valor of $288.000 at the time of sale Depreciation 580.000, is in the selling expense category Questions relate to a statement of cash flows direct method for the year ended December 31, 2019 for San Maring Company al Carecer customers b) Cash paid to purchase eventory Cach podmin Exp 1 dash pastas 1 Calculate net cash provided by operating activities using the direct method Enter you Enter your own Eur her your D 1 Harian Mining Co, has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. 2 Financial statements of Harian Mining Co. for 2019 and 2018 are provided below. 3. BALANCE SHEETS 4 12/31/2019 12/31/2018 5 cash 5408,000 $192,000 6 Accounts receivable 360,000 216,000 7 Inventory 384,000 180,000 8 Property, plant and equiment S60 000 5960,000 9 tew accumulated depreciation 120,000 288,000 100,000 56,000 10 $1.410,000 51.544,000 11 12 Accounts payable $176,000 $96.000 13 Income taxes payable 352.000 392.000 14 Bonds payable 360,000 600,000 15 Common stock 216,000 216,000 16 Retained caring 136,000 200,000 $1,440,000 $1,544,000 18 COME STATEMENT ar the Year Ended December 31, 2019 steven $8,400,000 ost of sales 2,152,000 toss profit 1,248,000 elling expenses $600,000 administrative expenses 192,000 792.000 income from operations 456,000 Sther losses 72,000 Income before te 384,000 Income taxes 95.000 Net Income $288.000 The following additional data were provided 1 Dividends for the year 2019 wire 5192,000 2. During the ye, equipment was sold for $200.000. The cost $352.000 originally and had a book valor of $288.000 at the time of sale Depreciation 580.000, is in the selling expense category Questions relate to a statement of cash flows direct method for the year ended December 31, 2019 for San Maring Company al Carecer customers b) Cash paid to purchase eventory Cach podmin Exp 1 dash pastas 1 Calculate net cash provided by operating activities using the direct method Enter you Enter your own Eur her your Step by Step Solution
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