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Prepare a FULL cash flow statement for Cordova Company for the year 2019. For the operating! section, use the indirect method. For the operating section,
Prepare a FULL cash flow statement for Cordova Company for the year 2019. For the operating! section, use the indirect method. For the operating section, use the indirect method. Please label all sections, subtotals, and descriptions of items clearly Additional details for activity in 2019: The change in retained earnings is from the 2019 net income of $25,000 and $6,000 of dividends that were declared and paid during the year. New equipment was purchased for $125,000 cash. The company borrowed $25,000 by taking out a long-term note payable. No land was bought or sold during the year. Old equipment was sold for $20,000 of cash. The original cost of the equipment sold was $50,000, and the net book value was $30,000. Bonds in the amount of $4,000 were retired at no gain or loss and all purchased with cash. These bonds were originally issued at face. Depreciation expense for 2019 was $80,000. Assets 12/31/19 12/31/18 Cash $ 63,600 561,000 Accounts Receivable $ 80,000 $69,000 Inventory $ 75,000 $50,000 Prepaid rent $ 2,000 $18,000 Prepaid insurance $3,000 $1,000 Land $ 60,000 $60,000 Equipment $575,000 $500,000 Accumulated Depreciation S (310,0001s (250,000) Liabilities Accounts Payable S 144,000 $140,000 Interest Payable 555,000 $60,000 Unearned Revenue $600 Note Payable - Long term $27,000 $2,000 Bond Payable - Long term $ 76,000 $80,000 Equity Common stock $100,000 $100,000 Retained Earnings $ 146,000 $ 127,000 Complete the statement of cash flows below using the format we used in lecture: "NOTE" If you are subtracting the adjustment from net income, please enter your number with a negative (-)sign at the beginning of your answer. If you are adding the adjustment to net income, please enter your number with a positive (+) sign at the beginning of your answer. Do not include any dollar signs. Change in Cash +$2,600 Cash Flows from Operations Amount (enter as a whole number, no decimal points) Net Income Depreciation Adjustment Gain/Loss Adjustment Accounts Receivable Adjustment Inventory Adjustment Prepaid rent Adjustment Prepaid Insurance Adjustment Accounts Payable Adjustment Interest Payable Adjustment Unearned Revenue Adjustment Inventory Adjustment Prepaid rent Adjustment Prepaid Insurance Adjustment Accounts Payable Adjustment Interest Payable Adjustment Unearned Revenue Adjustment Cash from operations Amount Investing or Financing Sources or Uses of Cash Type a brief description of the cash inflow or outflow Source or Use? Type "source" or "use" Type "investing" or "financing Enter as a whole number, no decimal points Prepare a FULL cash flow statement for Cordova Company for the year 2019. For the operating! section, use the indirect method. For the operating section, use the indirect method. Please label all sections, subtotals, and descriptions of items clearly Additional details for activity in 2019: The change in retained earnings is from the 2019 net income of $25,000 and $6,000 of dividends that were declared and paid during the year. New equipment was purchased for $125,000 cash. The company borrowed $25,000 by taking out a long-term note payable. No land was bought or sold during the year. Old equipment was sold for $20,000 of cash. The original cost of the equipment sold was $50,000, and the net book value was $30,000. Bonds in the amount of $4,000 were retired at no gain or loss and all purchased with cash. These bonds were originally issued at face. Depreciation expense for 2019 was $80,000. Assets 12/31/19 12/31/18 Cash $ 63,600 561,000 Accounts Receivable $ 80,000 $69,000 Inventory $ 75,000 $50,000 Prepaid rent $ 2,000 $18,000 Prepaid insurance $3,000 $1,000 Land $ 60,000 $60,000 Equipment $575,000 $500,000 Accumulated Depreciation S (310,0001s (250,000) Liabilities Accounts Payable S 144,000 $140,000 Interest Payable 555,000 $60,000 Unearned Revenue $600 Note Payable - Long term $27,000 $2,000 Bond Payable - Long term $ 76,000 $80,000 Equity Common stock $100,000 $100,000 Retained Earnings $ 146,000 $ 127,000 Complete the statement of cash flows below using the format we used in lecture: "NOTE" If you are subtracting the adjustment from net income, please enter your number with a negative (-)sign at the beginning of your answer. If you are adding the adjustment to net income, please enter your number with a positive (+) sign at the beginning of your answer. Do not include any dollar signs. Change in Cash +$2,600 Cash Flows from Operations Amount (enter as a whole number, no decimal points) Net Income Depreciation Adjustment Gain/Loss Adjustment Accounts Receivable Adjustment Inventory Adjustment Prepaid rent Adjustment Prepaid Insurance Adjustment Accounts Payable Adjustment Interest Payable Adjustment Unearned Revenue Adjustment Inventory Adjustment Prepaid rent Adjustment Prepaid Insurance Adjustment Accounts Payable Adjustment Interest Payable Adjustment Unearned Revenue Adjustment Cash from operations Amount Investing or Financing Sources or Uses of Cash Type a brief description of the cash inflow or outflow Source or Use? Type "source" or "use" Type "investing" or "financing Enter as a whole number, no decimal points
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