Question

9. Michael, Inc.'s accountant has partially completed the spreadsheet for the statement of cash flows. Fill in the remaining missing information. (lf a bax is not used in the statement, leave the box emply do not select a label or enter a zero, Dot check your answer until bath Panel A and Panel B have been completed) (Click the icon to view the information) Balance 12/31/2018 Michael, Inc. Spreadsheet for Statement of Cash Flows Year Ended December 31, 2018 Balance Transaction Analysis Panel A-Balance Sheet: 12/31/2017 DEBIT CREDIT 15.100 Accounts Receivable 4300 Plant Assets 144 (500) Accumulated Depreciation 33,360 Total Assets Cush 20,100 6,560 1.800 15,700 (1,100 40,260 Accounts Payable 6.400 4,900 5,700 Common Slock, no par Relained Earrings 22.360 4400 28.060 7,200 40,260 Total Liabiliscs and Stockhalders' Equity

Answer 1

This is the table in Completed Form:

	2017	Debit	Credit	2018
Cash	15,100	5,000		20,100
Accounts Receivable	4,360	1,200		5,560
Plant Assets	14,400	1,300		15,700
Acc. Depreciation	(500)		600	(1,100)
	33,360			40,260
Accounts Payable	6,600	1,700		4,900
Common Shares	22,360		5,700	28,060
Retained Earnings	4,400	5,900	8,800	7,300
	33,360			40,260

Cash Flow Statement in Indirect Method:

Cash flow from Operating income
Net Income	8,800
Adjustment for Reconciliation
Depreciation Expenses	600
Decrease in Accounts Payable	(1,700)
Increase in Accounts Receivable	(1,200)
	6,500
Cash flow from Investing Actvities
Acquisition of Plant Asset	(1,300)
	(1,300)
Cash flow from Financing Actvities
Issuance of Common Stock	5,700
Payment of Dividends	(5,900)
	(200)
Net Change in Cash	5,000
Add: Opening Cash Balance	15,100
Closing Cash Balance	20,100