a. Net income for the year was $110,000.
b. Dividends of $100,000 cash were declared and paid.
c. Scoreteck’s only noncash expense was $80,000 of depreciation.
d. The company purchased plant assets for $80,000 cash.
e. 
Notes payable of $30,000 were
issued for $30,000 cash.
Complete the following spreadsheet in preparation of the statement
of cash flows. (The statement of cash flows is not required.)
Report operating activities under the indirect method.
(Enter all amounts as positive values.)
Homework Answers
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a. Net income for the year was $110,000. b. Dividends of $100,000 cash were declared and...
a. Net income for the year was $115,000 b. Dividends of $110,000 cash were declared and...
a. Net income for the year was $115,000 b. Dividends of $110,000 cash were declared and paid. c. Scoreteck's only noncash expense was $85,000 of depreciation. d. The company purchased plant assets for $85,000 cash. e. Notes payable of $35,000 were issued for $35,000 cash. plete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required) Report operating activities under the indirect method. (Enter all amounts as positive values.) SCORETECK CORPORATION...
a. Net income for the year was $117,000 b. Dividends of $114,000 cash were declared and...
a. Net income for the year was $117,000 b. Dividends of $114,000 cash were declared and paid c. Scoreteck's only noncash expense was $87,000 of depreciation d. The company purchased plant assets for $87,000 caslh e. Notes payable of $37,000 were issued for $37,000 cash Complete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required.) Report operating activities under the indirect method. (Enter all amounts as positive values.) SCORETECK CORPORATION...
a. Net income for the year was $115,000 b. Dividends of $110,000 cash were declared and...
a. Net income for the year was $115,000 b. Dividends of $110,000 cash were declared and paid. c. Scoreteck's only noncash expense was $85,000 of depreciation. d. The company purchased plant assets for $85,000 cash. e. Notes payable of $35,000 were issued for $35,000 cash. Complete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required Report operating activities under the indirect method. (Enter all amounts as positive values.) SCORETECK CORPORATION...
fill in the blank box Exercise 12-13AA Indirect: Cash flows spreadsheet LO P4 a Net income for the year was $101,000. b...
fill in the blank box
Exercise 12-13AA Indirect: Cash flows spreadsheet LO P4 a Net income for the year was $101,000. b. Dividends of $82,000 cash were declared and paid. c. Scoreteck's only noncash expense was $71,000 of depreciation d. The company purchased plant assets for $71,000 cash. e. Notes payable of $21,000 were issued for $21,000 cash Complete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required.) Report operating...
Check my work 5 e. Net income for the year was $101,000 b. Dividends of $82.000...
Check my work 5 e. Net income for the year was $101,000 b. Dividends of $82.000 cesh were declared and paid. c. Scoreteck's only noncesh expense was $71,000 of depreciation. d. The company purchased plant assets for $71,000 cesh e. Notes peyable of $21,000 were issued for $21,000 cash g spreadsheet in preparation of the stetement of cash flows (The statement of cesh flows is not requred.) Report operating ectivites under the indirect method. (Enter all amounts es positive values....
put together a Spreadsheet for Statement of Cash Flows for the same problem 16B-45B. Format the...
put together a Spreadsheet for Statement of Cash Flows for the
same problem 16B-45B. Format the spreadsheet as shown in Exhibit
16B-1.
P16B-45B Using a spreadsheet to prepare the statement of cash flows-indirect method The 2018 comparative balance sheet and income statement of Attleboro Group, Inc. follow. Attleboro disposed of a plant asset at book value in 2018. ATTLEBORO GROUP, INC. Income Statement Year Ended December 31, 2018 $441,000 205,400 235,600 $ 76,300 15,300 49,600 Net Sales Revenue Cost of...
operating activities ✓ Net cash flow from operating activities, $225,000 PR 13-2A Statement of cash flows-indirect...
operating activities ✓ Net cash flow from operating activities, $225,000 PR 13-2A Statement of cash flows-indirect method Obj. 2, 3, 4,5 the comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2018 and 2017 is as follows: Dec. 31, 20Y8 Dec 31, 2017 Assets Cash.**** SHOW ME HOW TCL TEMPLATE $ 80,000 275,000 510,000 15,000 1,070,000 (200,000) $1,750,000 $100,000 300,000 400,000 10,000 750,000 (160,000) $1,400,000 Accounts receivable (net)..... Inventories... Prepaid expenses ...... Equipment..... Accumulated depreciation equipment.. Total assets....
1.2. 3. Hardware Suppliers reports net income of $157,000. Included in net income is a gain on the sale of land of $16,...
1.2.
3.
Hardware Suppliers reports net income of $157,000. Included in net income is a gain on the sale of land of $16,000. A comparison of this year's and last year's balance sheets reveals an increase in accounts receivable of $27,000, an increase in inventory of $16,000, and a decrease in accounts payable of $47,000. Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as...
NORTH COMPANY Income Statement For the Year Ended December 31, 2019 $770,000 Sales Revenue Cost of...
NORTH COMPANY Income Statement For the Year Ended December 31, 2019 $770,000 Sales Revenue Cost of Goods Sold $550,000 Wages Expense Advertising Expense 195,000 31,000 Depreciation Expense 24,000 Interest Expense 20,000 Gain on Sale of Land (25,000) 795,000 Net Loss $(25,000) NORTH COMPANY Balance Sheets Dec. 31, 2019 Dec. 31, 2018 Assets $32,000 $80,000 Cash 49,000 42,000 Accounts Receivablé 107,000 115,000 Inventory Prepaid Advertising 10,000 14,000 Plant Assets 360,000 210,000 Accumulated Depreciation (80,000) (56,000) Total Assets $519,000 $364,000 Liabilities and...
Statement of Cash Flows (Indirect Method) North Company's income statement and comparative balance sheets as of...
Statement of Cash Flows (Indirect Method) North Company's income statement and comparative balance sheets as of December 31 of 2019 and 2018 follow: NORTH COMPANY Income Statement For the Year Ended December 31, 2019 Sales Revenue $770.000 Cost of Goods Sold $550,000 Wages Expense 195,0DD Advertising Expense 31,000 Depreciation Expense 24,000 Interest Expense 20,000 Gain on Sale of Land (25,000) 795,000 Net Loss 125,000) NORTH COMPANY Balance Sheets Dec. 31, 2019 Dec 31, 2018 Assets Cash $80,000 $32,000 Accounts Receivable...
a. Net income for the year was $115,000 b. Dividends of $110,000 cash were declared and paid. c. Scoreteck's only noncash expense was $85,000 of depreciation. d. The company purchased plant assets for $85,000 cash. e. Notes payable of $35,000 were issued for $35,000 cash. plete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required) Report operating activities under the indirect method. (Enter all amounts as positive values.) SCORETECK CORPORATION...
a. Net income for the year was $117,000 b. Dividends of $114,000 cash were declared and paid c. Scoreteck's only noncash expense was $87,000 of depreciation d. The company purchased plant assets for $87,000 caslh e. Notes payable of $37,000 were issued for $37,000 cash Complete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required.) Report operating activities under the indirect method. (Enter all amounts as positive values.) SCORETECK CORPORATION...
a. Net income for the year was $115,000 b. Dividends of $110,000 cash were declared and paid. c. Scoreteck's only noncash expense was $85,000 of depreciation. d. The company purchased plant assets for $85,000 cash. e. Notes payable of $35,000 were issued for $35,000 cash. Complete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required Report operating activities under the indirect method. (Enter all amounts as positive values.) SCORETECK CORPORATION...
fill in the blank box
Exercise 12-13AA Indirect: Cash flows spreadsheet LO P4 a Net income for the year was $101,000. b. Dividends of $82,000 cash were declared and paid. c. Scoreteck's only noncash expense was $71,000 of depreciation d. The company purchased plant assets for $71,000 cash. e. Notes payable of $21,000 were issued for $21,000 cash Complete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required.) Report operating...
Check my work 5 e. Net income for the year was $101,000 b. Dividends of $82.000 cesh were declared and paid. c. Scoreteck's only noncesh expense was $71,000 of depreciation. d. The company purchased plant assets for $71,000 cesh e. Notes peyable of $21,000 were issued for $21,000 cash g spreadsheet in preparation of the stetement of cash flows (The statement of cesh flows is not requred.) Report operating ectivites under the indirect method. (Enter all amounts es positive values....
put together a Spreadsheet for Statement of Cash Flows for the
same problem 16B-45B. Format the spreadsheet as shown in Exhibit
16B-1.
P16B-45B Using a spreadsheet to prepare the statement of cash flows-indirect method The 2018 comparative balance sheet and income statement of Attleboro Group, Inc. follow. Attleboro disposed of a plant asset at book value in 2018. ATTLEBORO GROUP, INC. Income Statement Year Ended December 31, 2018 $441,000 205,400 235,600 $ 76,300 15,300 49,600 Net Sales Revenue Cost of...
operating activities ✓ Net cash flow from operating activities, $225,000 PR 13-2A Statement of cash flows-indirect method Obj. 2, 3, 4,5 the comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2018 and 2017 is as follows: Dec. 31, 20Y8 Dec 31, 2017 Assets Cash.**** SHOW ME HOW TCL TEMPLATE $ 80,000 275,000 510,000 15,000 1,070,000 (200,000) $1,750,000 $100,000 300,000 400,000 10,000 750,000 (160,000) $1,400,000 Accounts receivable (net)..... Inventories... Prepaid expenses ...... Equipment..... Accumulated depreciation equipment.. Total assets....
1.2.
3.
Hardware Suppliers reports net income of $157,000. Included in net income is a gain on the sale of land of $16,000. A comparison of this year's and last year's balance sheets reveals an increase in accounts receivable of $27,000, an increase in inventory of $16,000, and a decrease in accounts payable of $47,000. Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as...
NORTH COMPANY Income Statement For the Year Ended December 31, 2019 $770,000 Sales Revenue Cost of Goods Sold $550,000 Wages Expense Advertising Expense 195,000 31,000 Depreciation Expense 24,000 Interest Expense 20,000 Gain on Sale of Land (25,000) 795,000 Net Loss $(25,000) NORTH COMPANY Balance Sheets Dec. 31, 2019 Dec. 31, 2018 Assets $32,000 $80,000 Cash 49,000 42,000 Accounts Receivablé 107,000 115,000 Inventory Prepaid Advertising 10,000 14,000 Plant Assets 360,000 210,000 Accumulated Depreciation (80,000) (56,000) Total Assets $519,000 $364,000 Liabilities and...
Statement of Cash Flows (Indirect Method) North Company's income statement and comparative balance sheets as of December 31 of 2019 and 2018 follow: NORTH COMPANY Income Statement For the Year Ended December 31, 2019 Sales Revenue $770.000 Cost of Goods Sold $550,000 Wages Expense 195,0DD Advertising Expense 31,000 Depreciation Expense 24,000 Interest Expense 20,000 Gain on Sale of Land (25,000) 795,000 Net Loss 125,000) NORTH COMPANY Balance Sheets Dec. 31, 2019 Dec 31, 2018 Assets Cash $80,000 $32,000 Accounts Receivable...
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