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The income statement and additional data of Breen Travel Products, Inc., follow: (Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Breon's statement of cash flows for the year ended December 31, 2018, using the indirect method. 2. Evaluate the company's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the rationale for your evaluation Requirement 1. Prepare Breen's statement of cash flows for the year ended December 31, 2018, using the indirect method. Start by completing the cash flows from operating activities. Then complete each section of the statement of cash flows, including the noncash investing and financing activities. (U subtracted and for a net decrease in cash.) Breen Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to Choose from any list or enter any number in the input fields and then click Check Answer. 4 parts remaining Clear All Data Table - fo iel Breen Travel Products, Inc. er ne Income Statement Year Ended December 31, 2018 de Revenues: ete Service revenue 239,000 8,700 $ 247,700 Dividend revenue d) 95,000 Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense 57,000 39,000 3,500 Interest expense 2,500 13.000 210.000 en a Print Done 4 of 7 (0 complete) More Info .X Additional data: a. Acquisition of plant assets was $120,000. Of this amount, $80,000 was paid in cash and $40,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $48,000. c. Proceeds from the issuance of common stock totaled $33,000. d. Payment of a long-term note payable was $13,000. e. Payment of dividends was $17,000. f. From the balance sheets: December 31, 2018 2017 Current assets: Cash 165,000 46,000 Accounts receivable $ 156,600 59,000 73,000 Inventory 96,000 Print Done The income statement and additional data of Breen Travel Products, Inc., follow: (Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Breen's statement of cash flows for the year ended December 31, 2018, using the indirect method. 2. Evaluate the company's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the rationale for your evaluation Requirement 1. Prepare Breen's statement of cash flows for the year ended December 31, 2018, using the indirect method. Start by completing the cash flows from operating activities. Then complete each section of the statement of cash flows, including the noncash investing and financing activities. (Use subtracted and for a net decrease in cash.) Breen Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to Choose from any list or enter any number in the input fields and then click Check Answer. 4 parts Clear All remaining E11-19A (similar to) The income statement and additional data of Breen Travel Products, Inc., follc on to view ecember 31 ation, mentic ear ended D RO Acquisition of plant assets 1. Decrease in accounts receivable 2. Depreciation Increase in accounts payable Ri Decrease in accrued liabilities St Increase in inventory su Increase in prepaid expenses Net income Payment of dividends Payment of long-term note payable Proceeds from issuance of common stock Proceeds from sale of land complete eac Method) 8 Adjustments to reconcile net income to Choose from any list or enter any number in the input fields and then click C 4 parts remaining Click the icon to view the additional data.) Requirements 1. Prepare Breen's statement of cash flows for the year ended December 31, 2018, using the indirect method. 2. Evaluate the company's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the ra Adjustments to reconcile net income to net cash provided by (used for) operating activities: Acquisition of plant assets Decrease in accounts receivable Depreciation Increase in accounts payable Decrease in accrued liabilities Increase in inventory Increase in prepaid expenses Ch Net income Payment of dividends 4 Payment of long-term note payable Proceeds from issuance of common stock d then click Check Answer Clear All The income statement and additional data of Breen Travel Products, Inc., follow: (Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Breon's statement of cash flows for the year ended December 31, 2018, using the indirect method. 2. Evaluate the company's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the rationale for your evaluation Requirement 1. Prepare Breen's statement of cash flows for the year ended December 31, 2018, using the indirect method. Start by completing the cash flows from operating activities. Then complete each section of the statement of cash flows, including the noncash investing and financing activities. (U subtracted and for a net decrease in cash.) Breen Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to Choose from any list or enter any number in the input fields and then click Check Answer. 4 parts remaining Clear All Data Table - fo iel Breen Travel Products, Inc. er ne Income Statement Year Ended December 31, 2018 de Revenues: ete Service revenue 239,000 8,700 $ 247,700 Dividend revenue d) 95,000 Expenses: Cost of goods sold Salary expense Depreciation expense Advertising expense 57,000 39,000 3,500 Interest expense 2,500 13.000 210.000 en a Print Done 4 of 7 (0 complete) More Info .X Additional data: a. Acquisition of plant assets was $120,000. Of this amount, $80,000 was paid in cash and $40,000 was financed by signing a note payable. b. Proceeds from the sale of land totaled $48,000. c. Proceeds from the issuance of common stock totaled $33,000. d. Payment of a long-term note payable was $13,000. e. Payment of dividends was $17,000. f. From the balance sheets: December 31, 2018 2017 Current assets: Cash 165,000 46,000 Accounts receivable $ 156,600 59,000 73,000 Inventory 96,000 Print Done The income statement and additional data of Breen Travel Products, Inc., follow: (Click the icon to view the income statement.) (Click the icon to view the additional data.) Requirements 1. Prepare Breen's statement of cash flows for the year ended December 31, 2018, using the indirect method. 2. Evaluate the company's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the rationale for your evaluation Requirement 1. Prepare Breen's statement of cash flows for the year ended December 31, 2018, using the indirect method. Start by completing the cash flows from operating activities. Then complete each section of the statement of cash flows, including the noncash investing and financing activities. (Use subtracted and for a net decrease in cash.) Breen Travel Products, Inc. Statement of Cash Flows (Indirect Method) Year Ended December 31, 2018 Cash flows from operating activities: Adjustments to reconcile net income to Choose from any list or enter any number in the input fields and then click Check Answer. 4 parts Clear All remaining E11-19A (similar to) The income statement and additional data of Breen Travel Products, Inc., follc on to view ecember 31 ation, mentic ear ended D RO Acquisition of plant assets 1. Decrease in accounts receivable 2. Depreciation Increase in accounts payable Ri Decrease in accrued liabilities St Increase in inventory su Increase in prepaid expenses Net income Payment of dividends Payment of long-term note payable Proceeds from issuance of common stock Proceeds from sale of land complete eac Method) 8 Adjustments to reconcile net income to Choose from any list or enter any number in the input fields and then click C 4 parts remaining Click the icon to view the additional data.) Requirements 1. Prepare Breen's statement of cash flows for the year ended December 31, 2018, using the indirect method. 2. Evaluate the company's cash flows for the year. In your evaluation, mention all three categories of cash flows and give the ra Adjustments to reconcile net income to net cash provided by (used for) operating activities: Acquisition of plant assets Decrease in accounts receivable Depreciation Increase in accounts payable Decrease in accrued liabilities Increase in inventory Increase in prepaid expenses Ch Net income Payment of dividends 4 Payment of long-term note payable Proceeds from issuance of common stock d then click Check Answer Clear All
