Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please I need help. Thank you Spreadsheet and Statement The following 2016 information is available for Stewart Company: Partial additional information: - The equipment that

please I need help. Thank you image text in transcribed
image text in transcribed
image text in transcribed
Spreadsheet and Statement The following 2016 information is available for Stewart Company: Partial additional information: - The equipment that was soid for cash had cost $400 and had a book value of $300 - Land that was sold brought a cash price of $530. - Fifty shares of stock were issued at par. Required: Making whatever additional assumptions that are necessary, 1. Prepare a spreadsheet to support a 2016 statement of cash flows for Stewart. If an amount is zero, enter " 0 ". STEWART COMPANY Cash Flows Worksheet For Year Ended December 31, 2016 Cash Flow From Operating Activities Net income Add: Decrease in accounts receivable Add: Loss on sale of equipment Add: Depreciation expense Add: Increase in accounts payable Less: Increase in imventory Less; Gain on sale of land Cash Flows From Investing Activities Proceeds from sale of land Payment for purchase of tand Proceeds from sale of equipment 530 Payment for purchase of equipment Cash Flows From Financing Activities Proceeds from issuance of common stock Payment of dividends Net increase in cash Totals 2. Prepare the statement of cash flows. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Financial Accounting Theory

Authors: Craig Deegan, H. Bierman

4th Edition

0071013148, 978-0071013147

More Books

Students also viewed these Accounting questions