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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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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- Highlight the Net cash provided by Operating Activities for the Statement of Cash Flows Highlight the Net cash provided by Financing Activities for the Statement of Cash Flows Highlight the net change in cash for the period on the Statement of Cash Flowsarrow_forwardUse the following information from Dubuque Company's financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018: 2018 Income Statement Balance Sheets Sales Cost of Goods Sold Operating Expenses, other than depreciation expense Depreciation Expense Gain on Sale of Plant Assets $ 299,000 (135,000) (27,000) (17,000) 16,500 136,500 Net Income Dec. 31, 2018 $45,300 1,600 22,500 900 Accounts Receivable Inventory Accounts Payable Accrued Liabilities Accounts Receivable Inventory Accounts Payable Accrued Liabilities Dec. 31, 2017 $43,400 1,800 21,250 1,150 PLEASE NOTE: Use the account and term names exactly, as shown above and the accounts will be listed in the same order as shown in the textbook examples. All dollar amounts will be rounded to whole dollars using "$" and commas as needed (i.e. $12,345) and decreases will be shown with parentheses - $(12,345).arrow_forwardHow does Accounts Payable impact Declan's Designs' 2022 Statement of Cash Flows?arrow_forward
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