Question
These are the following options for the Drop-Down Menu Cash, beginning of the year Operating activities 1st box contains Net Income or Net Loss 2nd
These are the following options for the Drop-Down Menu
Cash, beginning of the year
Operating activities
1st box contains Net Income or Net Loss 2nd box contains Add: Depreciation or Less: Depreciation 3rd box contains Add: Increase in Accounts Payable or Less: Increase in Accounts Payable 4th box contains: Add: Increase in Other current Liabilities or Less: Increase in other current Liabilities 5th box contains: Add: Increase in Accounts Receivable or Less: Increase in Accounts Payable 6th box contains: Add: Increase in Inventory or Less: Increase in Inventory
Net cash from operating activities
Investment activities
7th box contains: Decrease in notes payable, Dividends Paid, Fixed asset acquisition or Increase in long-term debt
Net cash from investment activities
Financing activities
8th box contains: Decrease in notes payable, dividends paid or Fixed asset acquisition 9th box contains: Decrease in notes payable or dividends paid 10th box contains: Decrease in notes payable, Dividends Paid, Fixed asset acquisition or Increase in long-term debt 11th box contains: Decrease in notes payable, Dividends Paid, Fixed asset acquisition or Increase in long-term debt 12th box contains: Decrease in notes payable, Dividends Paid, Fixed asset acquisition or Increase in long-term debt
Net Cash from financing activities
13th box contains: Net Increase in cash or Net decrease in cash
Cash, end of year
Please use the following terminology in the boxes and if the answers I correct, I will thumbs up.
Assets 2018 Current assets Cash Accounts receivable Inventory Total EARL GREY GOLF CORP. 2017 and 2018 Statement of Financial Position Liabilities and Owners' Equity 2017 2018 2017 Current liabilities $ 24,046 $ 24, 255 Accounts payable $ 23, 184 12,448 15,235 Notes payable 12,000 25,392 27,155 Other 11,571 $ 61,886 $ 66,645 Total $ 46,755 Long-term debt $ 80,000 Owners' equity $324,695 $365,734 Common stock and paid-in surplus $ 40,000 Retained earnings 219,826 Total $259,826 $386,581 $432,379 Total liabilities and owners' equity $386,581 $ 27,420 10,800 15,553 $ 53,773 $ 95,000 Fixed assets Net plant and equipment $ 40,000 243, 606 $283,606 $432,379 Total assets EARL GREY GOLF CORP. 2018 Statement of Comprehensive Income Sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes (35%) Net income Dividends $ 20,000 Additions to retained earnings 23,780 $366,996 253,122 32,220 $ 81,654 14,300 $ 67,354 23,574 $ 43,780 Prepare the 2018 statement of cash flows for Earl Grey Golf Corp. (Negative answers should be indicated by a minus sign. Omit $ sign in your response.) EARL GREY GOLF CORP. Statement of Cash Flows for 2018 Cash, beginning of the year Operating activities Net cash from operating activities Investment activities Net cash from investment activities Financing activities Net cash from financing activities Cash, end of yearStep by Step Solution
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