Question

Search Margaret Maplethorpe w 8. De 11.2 dat Protected ViewSaved References Malings Review De Layout Help View Enable Editing the w DVB a y to edit to stay in Protected View Ece 13.2 quint Beg balance New equip Sale of equip Euse Acum Depan Reghalance Depa Expense Sale of equip Fnd Balance Comen stock Retained Warnings Beg balance Bands Payable Beg balance Now bonds Retire boods Fudbalance Dividends Ent balance comme stock End balance Use the following data to prepare a statement of Cash Flores can Statement For the Year ended December 31, 2018 Coat of tooth Sold 100 000 190.000 O g Expenses Depreciate Espen Other Expenses 216.000 Persh OBEE MENUNUDOPA JUUUUUUUU

Answer 1

Statement of Cash Flows For the year ended December 31, 2018
Cash Flows from Operating Activities
Net Income		$38,000
Adjustments to reconcile net income to net cash provided by operations
Depreciation expense	$24,000
Loss on sale of equipment	6,000
Gain on retirement of bonds	(16,000)
Increase in accounts receivable	(20,000)
Increase in merchandise inventory	(14,000)
Increase in prepaid expenses	(2,000)
Decrease in accounts payable	(5,000)
Decrease in interest payable	(1,000)
Increase in income taxes payable	10,000	(18,000)
Net cash provided by Operating Activities		20,000
Cash Flows from Investing Activities
Cash from sale of equipment	12,000
Cash paid for purchasing equipment	(10,000)
Cash flows from Investing Activities		2,000
Cash Flows from Financing Activities
Cash from issuance of common stock	15,000
Cash paid for dividends	(14,000)
Cash paid to retire bonds payable	(18,000)
Net cash used for Financing Activities		(17,000)
Net increase ( decrease) in cash		5,000
Cash, December 31, 2017		12,000
Cash, December 31, 2018		17,000