Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

prepare a statement of cash flows using indirect method for 2017 please show work 2018 2017 Cash Accounts Receivable Inventory Prepaid Rent $409,300 $258,700 $569,100

prepare a statement of cash flows using indirect method for 2017 please show work
image text in transcribed
2018 2017 Cash Accounts Receivable Inventory Prepaid Rent $409,300 $258,700 $569,100 $1,119,000 $1,056,000 $621,800 $88,700 $2,238,800 $46,900 Total Current Assets $1,930,700 N/R -City of Gila Bend Equipment Accumulated Depreciation Equipment $226,300 $554,000 $337,000 $699,000 $235,000 $1,064,000 $172,400 $654,000 $310,000 $574,000 $212,000 $724,000 Accumulated Depreciation- Buildings Land Total Assets $4,210,100 $3,533,100 Accounts Payable Accrued Interest Payable Accrued Wages Bonds Payable Dividends Payable Income Taxes Payable $218,700 $27,900 $36,800 $100,000 $25,000 $99,100 $334,600 $42,600 $56,500 $52,200 $78,000 $91,000 Total Liabilities $507,500 $654,900 Common Stock Retained Eamings Current Year Income $400,000 $2,578,200 $724,400 $300,000 $1,889,300 $688,900 Total Equity $3,702,600 $2,878,200 Total Liabilities+ Equity $4.210,100 $3,533,100 $60,400 gain on sale of equipment was included in net income

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

More Books

Students also viewed these Accounting questions

Question

How can conflicts of interest be prevented and detected?

Answered: 1 week ago

Question

What is the relation of physical mathematics with examples?

Answered: 1 week ago

Question

What are oxidation and reduction reactions? Explain with examples

Answered: 1 week ago

Question

Apply your own composing style to personalize your messages.

Answered: 1 week ago

Question

Format memos and e-mail properly.

Answered: 1 week ago