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Solve the table with the data provided in last picture X P10-23A (similar to) Smithson Software Inc. has assembled the following data for the year
Solve the table with the data provided in last picture
X P10-23A (similar to) Smithson Software Inc. has assembled the following data for the year ended December 31, 2017 P: (Click the icon to view the current accounts.) : (Click the icon to view the transaction data.) Requirement Prepare Smithson Software Inc.'s statement of cash flows using the indirect method to report operating activities. Include an accompanying schedule of non-cash investing and financing activities. How much of the cash used for investing activities was provided by operations? Start by completing the cash flows from operating activities. Then, continue with completing the investing and financing activities sections. Finally, determine the net increase (decrease) in cash. (Use a minus sign or parentheses for subtracting numbers that are typically shown enclosed in of cash flows.) Smithson Software Inc. Statement of Cash Flows For the Year Ended December 31, 2017 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Loss on sale of equipment Increase in accounts receivable Increase in inventories Increase in prepaid expenses Increase in accounts payable Increase in income tax payable Decrease in accrued liabilities Net cash provided by operating activities Cash flows from investing activities: Purchase of building Purchase of long-term investment Proceeds from sale of equipment Collection of loan Net cash used for investing activities Il cash flows from financing activities Smithson Software Inc. has assembled the following data for the year ended December 31, 2017 BE: (Click the icon to view the current accounts.) P.: (Click the icon to view the transaction data.) Requirement Prepare Smithson Software Inc.'s statement of cash flows using the indirect method to report operating activities. Include an accompanying schedule of non-cash investing and financing activities. How much of the cash used for investing activities was provided by operations? Purchase of building Purchase of long-term investment Proceeds from sale of equipment Collection of loan Net cash used for investing activities Cash flows from financing activities: |$ Issuance of common shares Issuance of long-term note payable Payment of cash dividends Repurchase of common shares Net cash provided by financing activities Net increase (decrease) in cash Cash balance, December 31, 2016 Cash balance, December 31, 2017 Non-cash investing and financing activities: Acquisition of land by issuing long-term note payable Repayment of bonds payable by issuing common shares Total non-cash investing and financing activities How much of the cash used for investing activities was provided by operations? Operations provided $ of the cash used in the investing activities. Morgensen Software Inc. has assembled the following data for the year ended December 31, 2017 E: (Click the icon to view the current accounts.) : (Click the icon to view the transaction data.) Requirement Prepare Morgensen Software Inc.'s statement of cash flows using the indirect method to report operating activities. Include an accompanying schedule of non-cash investing and financing activities. How much of the cash used for investing activities was provided by operations? Start by completing the cash flows from operating activities. Then, continue with completing the investing and financing activities sections. Finally, determine the net increase (decrease) in cash. (Use a minus sign or parentheses for subtracting numbers that are typically shown enclosed in parentheses in a statement of cash flows.) Current accounts - X i Transaction data - X December 31, 2017 2016 Morgensen Software Inc. Statement of Cash Flows For the Year Ended December 31, 2017 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Loss on sale of equipment Increase in accounts receivable Increase in inventories Increase in prepaid expenses Increase in accounts payable Increase in income tax payable 14,700 2,000 19,000 ....$ Current Accounts: Current assets: Cash and cash equivalents Accounts receivable Inventories Prepaid expenses Current liabilities: 83,200 $ 69,400 88,400 2,900 18,000 64,800 84.000 1,900 Transaction Data for 2017: Acquisition of land by issuing long-term note payable ......$ Stock dividends Collection of loan ........................ Depreciation expense .............. Purchase of building Repayment of bonds payable by issuing common shares ...... Purchase of long-term investment Repurchase of common shares. $ 97,000 Loss on sale of equipment .. 31,800 Payment of cash dividends ...... 10,400 Issuance of long-term note 21,000 payable to borrow cash 63,000 Net income................... Issuance of common shares 62,000 for cash Proceeds from sale of 45,100 equipment 34,900 61,000 36,500 Accounts payable Income tax payable Accrued liabilities 58,200 19,000 15,500 55,400 16,600 27,600 58,100 Decrease in accrued liabilities Net cash provided by operating activities Print Done Print DoneStep by Step Solution
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