Question

please help with the last part (last 2 pics). Thank you

Insert Format Tools Data Window Help Tue Nov 26 9:5 75% AutoSave oFF Template-ACC 213 Lab 10 for Chapter 12 Нome Insert Draw Page Layout Formulas Data Review View Share Conditional Formating Arial A A 10 Format as Table Paste B I A Alignment Number Cells Editing deas Cell Styles x f A60 Increase in Accounts Receivable A c E F G H Lab #10-Chapter 12 Statement of Cash Flows Name Instructions: 1. Caloulate the yearover-year diference in ocolumn D, then whether the change was an "noease or decease" (ee Cesh exampe) 2. Using the Indirect Method for Opersting Activites, complete the Statement of Cash Fiws at he bottoe of the te Additienal Data Assume al trensactions anre for cash unless otherwise noted. 9 Equipment in PPE is sold for $8200 eash. No purchases of PPE are made 10 Cost of equipment sold 11 Accumulated depreciation on equipment sold 12 Dvidends declared and paid in cument year 13. 14 Balance Sheets as of Dec. 31st 10,000 5,000 9,300 Previous Difference Increase c Decrease? Income statement Current Curent 15 Year Year Year 16 Assets 17 Current Assets Sales Revenue Cost of goods sold Gress Margin 270.000 145.000 18 Cash 36.000 23,000 100 inoease 50,000 14.000 125.000 19 Accounts Receivable 20 Inerest Recelvable 15.000 100 17,000 1,000 46.900 38,000 inorease Operating expenses Salares expense Rent expense Insurance expense Depeciation expense Total expenses nceme from operatons Other revenueleapense Plus: Gain on sale of Equipment PPE) Plus inerest venue Less: inteest expense Total Net Income decrease 48.000 21 Merchandise Inventory 22 Prepaid Rent 65,000 12.000 165,000 inorease 78,000 inoease inoease 11,000 14,000 118.100 23 Tetal current assets 6.200 20,000 24 25 Long-term Assets 26 Notes Receivable (nontrade) 27 Property, Plant & Eqvipment PPE) 28 Less: Accumulated Depreciston 29 Total long-term assets 118.200 7500 7.500 dеставе 6.800 100.000 (20.000) 67,500 90,000 05,000) 10.000 decrease 15.000 деставе 3.200 cecrmase 32,500 200 55,000 60 30 2.800 8600 205.000 14.400 incease 31 Total Assets 220,000 32 33 Liabilities and Shareholder's Equity 34 Current Liabilities 35 Accounts Payable-merchandse supples 20.000 18.000 2.000 inoease Sheet1 + Ready B

i need fo submit in 1 hr and 30 mins. Thanks!

Answer 1

Cash Flow Statement
Indirect Method
Cash flow from Operating Activities
Net Income		$          9,600.00
Adjustments
Depreciation	$    20,000.00
Gain on sale of Equipment	$     -3,200.00
Interest Revenue	$        -200.00
Change In current assets & Liabilities
Increase in Accounts Receivable	$ -15,000.00
Increase in inventories	$ -17,000.00
Increase in Prepaid Rent	$     -1,000.00
Increase in Accounts payable	$      2,000.00
Increase in Salaries Payable	$      3,700.00
Increase in Interest payable	$         400.00
Decrease in Unearned Revenue	$     -4,400.00
Total Adjustments		$      -14,700.00
Cash from operating activities			$        -5,100.00
Cash flow from Investing Activities
Sale of Equipment		$          8,200.00
Decrease in Notes Receivable (Non Trade)		$          7,500.00
Interest Revenue		$             300.00
Cash used in investing activities			$        16,000.00
Cash flow from Financing Activities
Repayment of Notes Payable		$      -17,600.00
Issue of Bonds		$          5,500.00
Issue of Common Stock		$        24,500.00
Dividend Paid		$         -9,300.00
Cash from financing activities			$          3,100.00
Net Increase in cash			$        14,000.00
Opening Balance of Cash			$        36,000.00
Closing Balance of Cash			$        50,000.00

Sale Proceeds of Equipment = Decrease in Equipment - Depreciation on equipment sold + Gain on sale
= $10000 - $5000 + $3200 = $8200

Depreciation on Equipment Sold = Beginning Balance Acc Dep + Depreciation Expense - Ending Balance Acc Dep
= $20000 + $20000 - $35000 = $5000