Question
The income statement and additional data of Health Plus, Inc. follow: Prepare the spreadsheet for the 2018 statement of cash flows. Format cash flows from
The income statement and additional data of Health Plus, Inc. follow:
Prepare the spreadsheet for the 2018 statement of cash flows. Format cash flows from operating activities by the indirect method. Use the transaction references in Panel B when selecting the transaction references in Panel A. (If a box is not used in the spreadsheet, leave the box empty; do not select a label or enter a zero. Do not check your answer until both Panel A and Panel B have been completed. Abbreviations used: Acquistion of Plant Assets by Issuing NP = Acquisition of Plant Assets by Issuing Note Payable.)
Health Plus, Inc. | ||||||||||
Spreadsheet for Statement of Cash Flows | ||||||||||
Year Ended September 30, 2018 | ||||||||||
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| Balance | Transaction Analysis | Balance | ||||||
| Panel ABalance Sheet: | 9/30/2017 |
| DEBIT | CREDIT |
| 9/30/2018 | |||
| Cash | $9,000 |
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| $40,000 | |||
| Accounts Receivable | 54,000 |
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| 38,000 | |||
| Merchandise Inventory | 93,000 |
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| 97,000 | |||
| Plant Assets | 40,000 |
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| 158,000 | |||
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| Accumulated DepreciationPlant Assets | (22,000) |
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| (47,000) | |||
| Land | 100,000 |
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| 72,000 | |||
| Total Assets | $274,000 |
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| $358,000 | |||
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| Accounts Payable | 18,000 |
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| 36,000 | |||
| Accrued Liabilities | 27,000 |
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| 15,000 | |||
| Notes Payable | 16,000 |
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| 17,000 | |||
| Total Liabilities | 61,000 |
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| 68,000 | |||
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| Common Stock, no par | 5,000 |
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| 39,000 | |||
| Retained Earnings | 208,000 |
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| 251,000 | |||
| Total Liabilities and Stockholders' Equity | $274,000 |
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| $358,000 |
Panel BStatement of Cash Flows: |
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Cash Flows from Operating Activities: |
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a |
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Adjustments to Reconcile Net Income |
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to Net Cash Provided by Operating Activities: |
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| (b) |
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| (c) |
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| (d) |
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| (e) |
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| (f) |
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Net Cash Provided by Operating Activities |
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Cash Flows from Investing Activities: |
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| (g1) |
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| (h) |
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Net Cash Used for Investing Activities |
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Cash Flows from Financing Activities: |
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| (j) |
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| (i) |
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| (k) |
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Net Cash Used for Financing Activities |
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| (l) |
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Non-cash Investing and Financing Activities: |
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| (g2) |
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Total Non-cash Investing and Financing Activities |
| (g2) |
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Total |
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