Prepare a statement of cash flows (direct method) for the year 2018. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments. Victrolia CompanyStatement of Cash Flows (Direct Method)For the Year Ended December 31, 2018 Cash Flow from Operating Activities:         $- Select - Cash Payments:       $- Select -     - Select - - Select - Net cash flows from operating activities   $fill in the blank 8 Cash Flow from Investing Activities:       $- Select -   Net Cash Flow from Investing Activities   fill in the blank 11 Cash Flow from Financing Activities:       $- Select -   Net Cash Flow from Financing Activities   fill in the blank 14     $- Select - Cash Balance, December 31, 2017   fill in the blank 17 Cash Balance, December 31, 2018

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Use the following excerpts from Victrolia Company’s financial information.

  2018 Income Statment   Balance Sheets
Sales $475,000    
Cost of Goods Sold (221,500)    
Operating Expenses, other than
Depreciation Expense
(60,600)    
Depreciation Expense (21,000)    
Gain on Sale of Plant Assets 23,500    
Net Income $195,400    
      Dec. 31,2018
Cash     $347,450
Accounts Receivable     39,750
Inventory     33,000
Accounts Payable     17,550
Accured Liabilities     3,500
      Dec. 31, 2017
Cash     $133,500
Accounts Receivable     36,500
Inventory     35,000
Accounts Payable     19,550
Accured Liabilities     2,200
       
Additional Information:      
Plant assets were sold for $45,000; book value $16,500
Dividends of $22,000 were declared and paid

Prepare a statement of cash flows (direct method) for the year 2018. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments.

Victrolia CompanyStatement of Cash Flows (Direct Method)For the Year Ended December 31, 2018

Cash Flow from Operating Activities:    
 
  $- Select -
Cash Payments:    
 
$- Select -  
 
- Select - - Select -
Net cash flows from operating activities   $fill in the blank 8
Cash Flow from Investing Activities:    
 
$- Select -  
Net Cash Flow from Investing Activities   fill in the blank 11
Cash Flow from Financing Activities:    
 
$- Select -  
Net Cash Flow from Financing Activities   fill in the blank 14
 
  $- Select -
Cash Balance, December 31, 2017   fill in the blank 17
Cash Balance, December 31, 2018
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