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please help! I need the balance sheet at the bottom filled out. Thank you in advance! will give for correct. Mastery Problem Statement of Cash
please help! I need the balance sheet at the bottom filled out. Thank you in advance! will give for correct.
Mastery Problem Statement of Cash Flows Championship Boxing, Inc. Championship Basing, Inc. is a small manufacturer of cardboard bores of all sizes. You have reported for your first day of work, and the company is in a row Yearly financial statements are being prepared but malfunction of the company's new BOX-9000 computer has inadvertently used parts of the company's balance sheet Wong with almost all related dute except the company's statement of cath. The IT department is wortoing to retrieve earlier back but estimates that the reconstruction of the data will take about 24 hours Unfortunately, necal statements are to be presta stockholders' meeting in an hour. The mysterect method to prepare statement of cash flows her than the direct method), your new believes the main data for the balance sheet can be prepared using the statement of cash for you are read this take you were top in your busiesthooldus. Meanwhile, the superviste stockholders' meeting and we some introductory remarks In addition to the sement of shows the following den ved the comporta The investments for $200,000 cash - Equipment word for $132.00 h Land was word for $326.000 There were no donals of een during the 12.500 shares of commock wereld for cu during the . There 596.000 tondange for at vinde dedored statement of Cash Flows You dey went to checo from home and the Championship Bowing, Inc. Statement of Cash Flows For the Year Ended December 31, 2018 Carmed for og het come 11050 Asants to continut cash low from an active Depreciation 18.400 Duofimet 150.000 Chapecoentgarde Lehtonable 254102 int 150 Championship Boxing, Inc. Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from (used for) operating activities: Net income $186,540 18,400 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Gain on sale of investments Changes in current operating assets and liabilities: Increase in accounts receivable (50,000) Increase in inventories (25,410) (33,350) 41,130 (12,480) $124,830 $280,000 Increase in accounts payable Decrease in accrued expenses payable Net cash flow from operating activities Cash flows from (used for) investing activities: Cash received from sale of investments Cash paid for purchase of land Cash paid for purchase of equipment Net cash flow used for investing activities Cash flows from (used for) financing activities: Cash received from sale of common stock Cash paid for dividends Net cash flow from financing activities (326,000) (152.080) (198,080) $187.500 (91 200) 96,300 523.050 Net increase in cash 585,920 Cash balance. January 1, 2018 Cash balance, December 31, 2018 S508.970 Check My Work 2018 2017 Assets Cash $585,920 230,970 Accounts receivable (net) Inventories 618,420 Investments Land 705,200 Equipment Accumulated depreciation equipment (166,400) Total assets Liabilities 5391.800 41.150 Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable Total liabilities 19,200 3498,080 Stockholders' Equity $ $100,000 Common stock 54 par 280.000 Paid-in capital in excess of par Retained earnings Total stockholders' equity 51,858,430 Total liabilities and stockholders' equity s Step by Step Solution
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