Answered step by step
Verified Expert Solution
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
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started