Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please use the balance sheet and income statement in the attachment D to complete the task required Prepare a statement a cash flow for the
Please use the balance sheet and income statement in the attachment D to complete the task required
Prepare a statement a cash flow for the year ended December 31, 2018
a. Present the cash flow from operations using the indirect method
Task 4 (Attachment D) Total: 4 Points BBB Company's balance sheet and income statement follow BBB COMPANY Balance Sheets December 31, 2018 and 2017 December 31 2018 2017 Cash 5 500 4 500 Marketable securities 2 500 2 000 Account receivable 6 000 7 000 Invertories 7 000 8 200 Total current assets 21 000 21 700 Land 11 000 12 000 Equipment 24 000 20 500 Accumulated depreciation-equipment -3 800 -3 000 Building 70 000 70 000 Accumulated depreciation-equipment -14 000 -12 000 Total assets 108 200 109 200 Accounts Payable Wages payable Taxes payable Total current liabilities Bond payable Common stock, $10 par Additional paid-in capital Retained earnings Total liabilities and stockholders' equity 8 000 1 050 500 9550 30 000 31 500 21 000 16 150 108 200 7 000 1 000 1 500 9 500 30 000 30 500 19 200 20 000 109 200 38 500 Statement of Earnings Year Ended December 31, 2018 Net sales Depreciation Expense Other operating Expense Operating Income Gain on sale of land Income before tax expense Tax expense Net Income 2 800 35 000 37 800 700 800 1 500 500 1 000 Suplemental information Dividends declared and paid Land sold for cash Equipment purchased for cash Common stock sold for cash 4 350 1 800 3 500 3 800
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