FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Use the following excerpts from Zowleski Company's financial information to prepare a statement of cash flows (indire
method) for the year 2018.
Dec. 31,
2018
Dec. 31,
2017
$ 92,300
22,000
140,000
180,000
(25,000)
409,300
$ 85,000
22,900
131,000
150,000
(21,000)
367,900
Cash
Account Receivable
Merchandise Inventory
Plant Assets
Accumulated Depreciation
Total Assets
Accounts Payable
Notes Payable
Common Stock
Retained Earnings
Total Liabilities and Equity
18,500
135,500
20,000
235,300
409,300
21,000
120,000
20,000
206,900
367,900
Additional information:
Net income for 2018
Depreciation expense for 2018 (accumulated depreciation increase)
Plant assets purchased (plant assets increase), financed by note
Notes payable increased by amount of plant asset purchase
Notes payable decreased by amount of principal note payments
28,400
4,000
30,000
30,000
14,500
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Transcribed Image Text:Use the following excerpts from Zowleski Company's financial information to prepare a statement of cash flows (indire method) for the year 2018. Dec. 31, 2018 Dec. 31, 2017 $ 92,300 22,000 140,000 180,000 (25,000) 409,300 $ 85,000 22,900 131,000 150,000 (21,000) 367,900 Cash Account Receivable Merchandise Inventory Plant Assets Accumulated Depreciation Total Assets Accounts Payable Notes Payable Common Stock Retained Earnings Total Liabilities and Equity 18,500 135,500 20,000 235,300 409,300 21,000 120,000 20,000 206,900 367,900 Additional information: Net income for 2018 Depreciation expense for 2018 (accumulated depreciation increase) Plant assets purchased (plant assets increase), financed by note Notes payable increased by amount of plant asset purchase Notes payable decreased by amount of principal note payments 28,400 4,000 30,000 30,000 14,500
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