Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Please help, statement of cash flows (Wileyplus) 2017 C264,110 2016 (242,500 (46,360) (52.440) Assets Equipment Accumulated depreciation- equipment Long-term investments Prepaid expenses Inventory Accounts receivable

Please help, statement of cash flows (Wileyplus)
image text in transcribed
image text in transcribed
2017 C264,110 2016 (242,500 (46,360) (52.440) Assets Equipment Accumulated depreciation- equipment Long-term investments Prepaid expenses Inventory Accounts receivable Cash Total 140,170 29,190 112,690 91,600 107,600 C699,000 114,150 25,330 102,320 33,030 48,020 0512,910 Equity and Liabilities Share capital-ordinary Retained earnings Bonds payable Accounts payable Accrued expenses payable Total 220,450 232,950 118,120 111,070 16,410 C699,000 174,560 103,840 149,860 67,640 17,010 6512,910 Monty SA Income statement for the year ended December 31 2017 391,680 4,370 (396,050 135,350 Sales revenue Gain on disposal of plant assets Less: Cost of goods sold Operating expenses, excluding depreciation Depreciation expense Income tax expense Interest expense Net income 12,020 44,620 27,910 4,060 223.960 C172,090 Additional information: 1. 2. New equipment costing 80,440 was purchased for cash during the year. Old equipment having an original cost of 58,830 and accumulated depreciation of 50,700 was sold for 12,500 cash. Bonds payable matured and were paid off at face value for cash. A cash dividend of 42,980 was declared and paid during the year. 3. 4. Prepare a statement of cash flows using the indirect method. Show amounts that decrease the flow with elther - sign .g.-15,000 or in parenthesis es (15.000). Adjustments to reconcile net income to

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions