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Please prepare cash flow statement for the year ended 31 Dec 2018, show T-Account of Retained earning, Dividend payable, Dividend at 31 Dec 2018

Please prepare cash flow statement for the year ended 31 Dec 2018, show T-Account of Retained earning, Dividend payable, Dividend at 31 Dec 2018

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please prepare cash flow statement for the year ended 31 Dec 2018, show T-Account of Retained earning, Dividend payable, Dividend at 31 Dec 2018

Question 4 ARMA INC. Comparative Balance Sheet December 31 Assets 2018 2017 90,800 92,800 112,500 28,400 48,400 33,000 102,850 Cash 42400 5900 9650 2400 2400 27500 Accounts receivable Inventories Prepaid expenses Supplies Machine 26,000 138,000 270,000 114,000 242,500 (52,000) 514,750 Less: Aceumulated-depreeiation (50,000) 682,500 Total Liabilities and Shareholder's equities Accounts payable Other payable Notes payable Total paid-in capital Retained earnings 112,000 16,500 110,000 67,300 17,000 150,000 175,000 105,450 514,750 44,700 -500 - 4 Q000 4-5000 118,550 220,000 224,000- 682,500 Total netincomo - dividend 15 8900 - dividend divid end A netained = ARMA INC. 118550 Income statement For the year ended December 31, 2018 3 9450 392,780 135,460 257,320 Sales revenue Cost of goods sold Gross profit Adverting expense Depreciation exхреnse Income taxes expense Interest expense Loss on sale of machine 12,410 46,500 27,280 4,730 7,500 158,900 Net income Additional information 1. New machine costing $85,000 were purchased for cash during the year. 2. Old machine having an original cost of $57,500 were sold for $1,500 cash. 3. Notes payable were paid off for cash. 4. Dividends were declared and paid during the year.
Transcribed Image Text:Question 4 ARMA INC. Comparative Balance Sheet December 31 Assets 2018 2017 90,800 92,800 112,500 28,400 48,400 33,000 102,850 Cash 42400 5900 9650 2400 2400 27500 Accounts receivable Inventories Prepaid expenses Supplies Machine 26,000 138,000 270,000 114,000 242,500 (52,000) 514,750 Less: Aceumulated-depreeiation (50,000) 682,500 Total Liabilities and Shareholder's equities Accounts payable Other payable Notes payable Total paid-in capital Retained earnings 112,000 16,500 110,000 67,300 17,000 150,000 175,000 105,450 514,750 44,700 -500 - 4 Q000 4-5000 118,550 220,000 224,000- 682,500 Total netincomo - dividend 15 8900 - dividend divid end A netained = ARMA INC. 118550 Income statement For the year ended December 31, 2018 3 9450 392,780 135,460 257,320 Sales revenue Cost of goods sold Gross profit Adverting expense Depreciation exхреnse Income taxes expense Interest expense Loss on sale of machine 12,410 46,500 27,280 4,730 7,500 158,900 Net income Additional information 1. New machine costing $85,000 were purchased for cash during the year. 2. Old machine having an original cost of $57,500 were sold for $1,500 cash. 3. Notes payable were paid off for cash. 4. Dividends were declared and paid during the year.
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