Question

The Adams Corporation reported the following income statement for 2018 and comparative balance sheet for 2018 and 2017, along with transaction data for 2018: (Click the icon to view the comparative balance sheet.) (Click the icon to view the income statement.) (Click the icon to view the additional data.) Prepare Adams Corporation's statement of cash flows for the year ended December 31, 2018. Format cash flows from operating activities by the indirect method. (Use a minus sign or parentheses for amounts that result in a decrease in cash.ir a box is not used in the statement, leave the box empty: do not select a label or enter a zero.) Complete the statement one section at a time, beginning with the cash flows from operating activities. Adams Corporation Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided (Used for) by Operating Activities: Nel Cast Provided by (Used for) Operating Activities

Answer 1

Amount S 26,000 Adams Corporation Cashflow Statement using Indirect method as at 31st December 2018 :- Particulars Amount Cash Flows From Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by operations : Add: Depreciation Expense - Plant assets 10,000 Add: Loss on disposal of Plant assets 2,000 Changes in Working Capital :- Add: Decrease in Accounts receivable 1,000 Less: Increase in Merchandise Inventory (1,000) Add: Increase in Accounts Payable 9,000 Less: Decrease in Accrued liabilities (2,000) 19,000 45,000 Net cash provided/(used) by Operating Activities