Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
thumbs up to correct answer! cash flow statement CARLA VISTA CORPORATION Balance Sheet December 31 Assets 2021 2020 Cash $16,300 $12,190 Accounts receivable 24,170 26,680
thumbs up to correct answer! cash flow statement CARLA VISTA CORPORATION Balance Sheet December 31 Assets 2021 2020 Cash $16,300 $12,190 Accounts receivable 24,170 26,680 Land 22,800 29,640 Buildings 79,800 79,800 Accumulated depreciation-buildings (17.100) (11.400) Total $125,970 $136,910 Liabilities and Shareholders' Equity Accounts payable $14.100 $35,450 Common shares 85.500 78,660 Retained earnings 26,370 22,800 Total $125,970 $136,910 Additional information: 1. 2. Profit was $25,800. Dividends declared and paid were $22,230. No noncash investing and financing activities occurred during 2021. The land was sold for cash of $5.590 resulting in a loss of $1,250 on the sale of the lan 3. estion 2 of 5 Decrease in Accounts Payable V (21.350) Net Cash Used by Operating Activities V $ $ Prepare a cash flow statement for 2021 using the indirect method. Lu Corporation reports under ASPE. (Show amour cash flow with either a-signeg.-15,000, or in parenthesis e.3. (15,000)). CARLA VISTA LIMITED Cash Flow Statement-Indirect method Year Ended December 31, 2021 Proht 25,800 Adjustments to reconcile profit to Operating Activities Depreciation Expense $ 5.700 Decrease in Accounts Receivable 2.510 Decrease in Accounts Payable 121,350) Net Cash Used by Operating Activities
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started