Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PLEASE SHOW HAND WORKING USING PEN AND PENCIL AND SHOW Calculations. please help me 1. To prepare the statement of cash flow for 2018 for

PLEASE SHOW HAND WORKING USING PEN AND PENCIL AND SHOW Calculations. please help me

image text in transcribed

1. To prepare the statement of cash flow for 2018 for Monsoon Company Cash balance January 12018,$12,000 - Net Income for the year ended December 31,2018 was $49,000 - Depreciation expense for 2018 was $12,000 - During 2018, plant assets with a book value of $50,000 (cost $50,000 and accumulated depreciation $0 ) were sold for $80,000 - Plant assets were acquired for $12,000 cash - Issued long-term notes payable for $10,000 - Purchased treasury stock for 1,000 - Paid dividends of $5,000 - Issued common stock for $10,000 - Repaid long-term notes payable for $15,000 -Decrease of accounts receivable, $55,000 -Decrease of account payable, $10,000

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

Fraud Casebook Lessons From The Bad Side Of Business

Authors: Joseph T. Wells

1st Edition

0470134682, 978-0470134689

More Books

Students also viewed these Accounting questions