Land was sold in 2018 bringing the balance to $200,000 at the end of 2018, from...
Land was sold in 2018 bringing the balance to $200,000 at the end of 2018, from $600,000 at the end of 2017.
When preparing a statement of cash flows using the indirect method what corresponding entry do you make?
Choose, one section, either addition or subtraction, and one dollar amount.
|
Financing Activities |
||
|
Investing Activities |
||
|
Operating Activities |
||
|
Add |
||
|
Subtract |
||
|
$200,000 |
||
|
$400,000 |
Homework Answers
Land sold would have generated cash flow of $400,000
Selling of land comes under Investing activities
The answer would be Investing activities Add $400,000
Add Answer to:
Land was sold in 2018 bringing the balance to $200,000 at the
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Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given...
Comparative balance sheets for 2018 and 2017 and a statement of
income for 2018 are given below for Metagrobolize Industries.
Additional information from the accounting records of Metagrobolize
also is provided.
METAGROBOLIZE INDUSTRIES
Comparative Balance Sheets
December 31, 2018 and 2017
($ in 000s)
2018
2017
Assets
Cash
$
560
$
370
Accounts receivable
710
370
Inventory
860
440
Land
700
670
Building
900
900
Less: Accumulated depreciation
(200
)
(160
)
Equipment
3,400
3,230
Less: Accumulated depreciation
(343
)...
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Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet Utah Corp Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Increase/(Decrease) Cash $45,000 $27,000 $18,000 Accounts Receivable 48,000 45,000 3,000 Merchandise Inventory 180,000 132.000 48 000 Total Assets $273,000 $204,000 $69,000 How will the change in Merchandise Inventory be shown on the statement of cash flows? O A negative cash flow under the investing activities...
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Comparative balance sheets for 2018 and 2017 and a statement of
income for 2018 are given below for Metagrobolize Industries.
Additional information from the accounting records of Metagrobolize
also is provided.
METAGROBOLIZE INDUSTRIES
Comparative Balance Sheets
December 31, 2018 and 2017
($ in 000s)
2018
2017
Assets
Cash
$
560
$
370
Accounts receivable
710
370
Inventory
860
440
Land
700
670
Building
900
900
Less: Accumulated depreciation
(200
)
(160
)
Equipment
3,400
3,230
Less: Accumulated depreciation
(343
)...
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