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The balance sheet and income statement for Veesperna Company are presented below. Veesperna Company Balance Sheet As at December 3 1 2 0 2 3
The balance sheet and income statement for Veesperna Company are presented below.
Veesperna Company
Balance Sheet
As at December
Assets
Current Assets
Cash $ $
Accounts Receivable $ $
Merchandise Inventory $ $
Total Current Assets $ $
Land $ $
Equipment $ $
Less: Accumulated Depreciation $ $
Total Assets $ $
Liabilities and Equity
Liabilities
Current Liabilities
Accounts Payable $ $
Taxes Payable $ $
Total Current Liabilities $ $
Bonds Payable $ $
Total Liabilities $ $
Shareholders' Equity
Common Shares $ $
Retained Earnings $ $
Total Shareholders' Equity $ $
Total Liabilities and Equity $ $
Notes: The company paid cash dividends during
The company did not make a bonds payable payment during
The company did not purchase any equipment during
The company did not purchase any land during
Veesperna Company
Income Statement
For the Year Ended December
Sales $
Cost of Goods Sold $
Gross Profit $
Operating Expenses
Depreciation Expense $
Other Operating Expenses $
Total Operating Expenses $
Income from Operations $
Other Income and Expenses
Interest Expense $
Loss on Sale of Equipment $
Gain on Sale of Land $
Operating Income before Tax $
Income Tax $
Net Income Loss $
Prepare the statement of cash flows for December using the indirect method.
Do not enter dollar signs or commas in the input boxes.
Use the negative sign for a decrease in cash.
Veesperna Company
Statement of Cash Flows
For the Year Ended December
Cash Flow from Operating Activities
Net Income Answer
Adjustments to Reconcile Net Income to Cash
Depreciation Expense Answer
Loss on Sale of Equipment Answer
Gain on Sale of Land Answer
Changes in Operating Assets and Liabilities
Increase in Accounts Receivable Answer
Increase in Merchandise Inventory Answer
Decrease in Accounts Payable Answer
Change in Cash Due to Operating Activities Answer
Cash Flow from Investing Activities
Sale of Equipment Answer
Sale of Land Answer
Net Cash Provided Used by Investing Activities Answer
Cash Flow from Financing Activities
Proceeds from Issuance of Common Shares Answer
Proceeds from Bonds Payable Answer
Payment of Dividends Answer
Net Cash Provided Used by Financing Activities Answer
Net increase decrease in cash Answer
Cash at the Beginning of the Year Answer
Cash at the End of the Year Answer
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