Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the information in the file above, what is Net cash provided by Operating Activities (CFO)? A. 35,000 B. -35,000 C. 55,000 D. -55,000 E.

image text in transcribed

Using the information in the file above, what is Net cash provided by Operating Activities (CFO)?

A. 35,000

B. -35,000

C. 55,000

D. -55,000

E. 26,000

F. -26,000

Using the information in the above below, what is Net cash provided by Investing Activities (CFI)?

A. 26,000

B. -26,000

C. 55,000

D. -55,000

E. 35,000

F. -35,000

Using the information in the file above, what is Net cash provided by Financing Activities (CFF)?

A. 55,000

B. -55,000

C. 26,000

D. -26,000

E. 35,000

F. -35,000

Income Statement For Year Ended December 31, 2018 $635,000 Sales... Cost of goods sold Wages expense Insurance expense Depreciation expense. Interest expense. Income tax expense $430,000 86,000 8,000 17,000 9,000 29,000 579,000 $ 56,000 Net income.. Balance Sheets Dec. 31, 2018 Dec. 31, 2017 Assets Cash... Accounts receivable. Inventory Prepaid insurance. Plant assets Accumulated depreciation Total assets $ 11,000 41,000 90,000 5,000 250,000 (68,000) $329,000 $ 5,000 32,000 60,000 7,000 195,000 (51,000) $248,000 Liabilities and Stockholders' Equity Accounts payable. Wages payable.. Income tax payable Bonds payable Common stock Retained earnings Total liabilities and equity $ 7,000 9,000 7,000 130,000 90,000 86,000 $329,000 $ 10,000 6,000 8,000 75,000 90,000 59,000 $248,000 Additional Notes: Cash dividends of $29,000 were declared and paid during 2018. Also in 2018, plant assets were purchased for cash, and bonds payable were issued for cash. Bond interest is paid semiannually on June 30 and December 31. Accounts payable relate to merchandise purchases

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Other Assurance Services

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Ingrid B. Splettstoesser

10th Canadian Edition

0131296159, 978-0131296152

More Books

Students also viewed these Accounting questions