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Please help me check my homework and answer the last totals (I always struggle with these). The Income statement and additional data of Vitamins Plus,
Please help me check my homework and answer the last totals (I always struggle with these).
The Income statement and additional data of Vitamins Plus, Inc. follow: (Click the icon to view the income statement.) (Click the icon to view the additional data.) Prepare the spreadsheet for the 2024 statement of cash flows. Format cash flows from operating activities by the indirect method. Vitamins Plus, Inc. Spreadsheet for Statement of Cash Flows Year Ended September 30, 2024 Balance Transaction Analysis Balance Panel A-Balance Sheet: 9/30/2023 DEBIT CREDIT 9/30/2024 Cash $ 20,710 15,290 $ 36,000 Accounts Receivable 56,000 9.000 47,000 Merchandise Inventory 89,000 7,000 96,000 Plant Assets 85,000 110,000 195,000 Accumulated Depreciation--Plant Assets Land (32,000) 101,000 30,000 27.000 Total Assets (62,000) 74,000 386,000 $ 319,710 15.000 Accounts Payable Accrued Liabilities Notes Payable Total Liabilities 23,000 24,000 9,000 10.000 38,000 14,000 10.000 1,000 56,000 82,000 Common Stock, no par 11.000 Retained Earrings 252.710 $319,710 Total Liabilities and Stockholders' Equity Choose from any list or enter any number in the input fields and then continue to the next question 31,000 29.290 42.000 282.000 386,000 The income statement and additional data of Vitamins Plus, Inc. follow: (Click the icon to view the income statement.) i (Click the icon to view the additional data.) Prepare the spreadsheet for the 2024 statement of cash flows. Format cash flows from operating activities by the indirect method Panel B-Statement of Cash Flows: (a) 40,290 (b) 30,000 9,000 (7.000) (d) (e) 15,000 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: Depreciation Expense-Plant 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 Cash Receipt from Issuance of Common Stock Cash Payment of Dividends Net Cash Used for Financing Activities Net Increase in Cash (10,000) (110,000) (91) (h) 28,000 (9,000) (0) 31,000 (11.000) (k) 11,000 W The income statement and additional data of Vitamins Plus, Inc. follow: (Click the icon to view the income statement.) (Click the icon to view the additional data.) Prepare the spreadsheet for the 2024 statement of cash flows. Format cash flows from operating activities by the indirect method. to Net Cash Provided by Operating Activities: (b) 30,000 Depreciation Expense Plant Assets Decrease in Accounts Receivable (c) 9,000 (7,000) (d) Increase in Merchandise Inventory Increase in Accounts Payable (e) 15,000 Decrease in Accrued Liabilities (10,000) 0 Net Cash Provided by Operating Activities Cash Flows from Investing Activities: Cash Payment for Acquisition of Plant Assets (110,000) (91) Cash Receipt for Sale of Land (h) 28,000 Net Cash Used for Investing Activities Cash Flows from Financing Activities: Cash Payment of Notes Payable (9,000) 0) Cash Receipt from Issuance of Common Stock (1) 31,000 Cash Payment of Dividends (11,000) (k) Net Cash Used for Financing Activities Net Increase in Cash 11,000 (1) Non-cash investing and Financing Activities: Acquisition of Piant Assets by Issuing NP Total Non-cash investing and Financing Activities (92) Total (92) Choose from any list or enter any number in the init i Data Table Vitamins Plus, Inc. Income Statement Year Ended September 30, 2024 Net Sales Revenue $ 234,000 95,000 Cost of Goods Sold 139,000 $ Gross Profit Operating Expenses: Salaries Expense Depreciation Expense-Plant Assets Total Operating Expenses Net Income Before Income Taxes 58,000 30,000 88,000 Income Tax Expense 51,000 10,710 Net Income $ 40,290 Print Done More Info C. a. Acquisition of plant assets is $110,000. Of this amount, $100,000 is paid in cash and $10,000 by signing a note payable. b. Cash receipt from sale of land totals $27,000. There was no gain or loss. Cash receipts from issuance of common stock total $31,000. d. Payment of note payable is $9,000. Payment of dividends is $11,000. f. From the balance sheet: e. Cash Accounts Receivable Merchandise Inventory Land Plant Assets Accumulated Depreciation Accounts Payable Accrued Liabilities Notes Payable (long-term) Common Stock, no par Retained Earnings September 30 2024 2023 $ 36,000 $ 20,710 47,000 56,000 96,000 89,000 74,000 101,000 195,000 85,000 (62,000) (32,000) 38,000 23,000 14,000 24,000 10,000 9,000 42,000 11,000 282,000 252,710 Print Done Step by Step Solution
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