A comparative balance sheet for Carla Vista Company appears below:CARLA VISTA COMPANYComparative Balance SheetCashAccounts receivableInventoryPrepaid expensesLong-term investmentsEquipmentAccumulated depreciation-equipmentTotal assetsAccounts payableBonds payableCommon stockRetained earningsTotal liabilities and stockholders' equity12Assets34.5.Dec. 31, 2022$54,00038,00045,00016.000Liabilities and Stockholder's Equity090,000(40,000)$203,000$37,00046,00060,00060,000Additional information:Net income for the year ending December 31, 2022 was $45,000.Cash dividends of $25,000 were declared and paid during the year.Long-term investments that had a cost of $37,000 were sold for $24,000.Sales for 2022 were $130.000.No equipment was sold during the year.$203,000Dec. 31, 2021$21,00023,00027,00029,00037,00043,000(25,000)$155,000$17,00065,00033,00040,000$155,000Prepare a statement of cash flows for the year ended December 31, 2022 using the indirect method. (Show amounts that decrease cashflow with either a-sign eg -15.000 ar in parenthesis eg. (15,000))

Statement of Cash Flow is a financial statement that includes the inflow and the outflow of cash…

A comparative balance sheet for Carla Vista Company appears below: CARLA VISTA COMPANY Comparative Balance Sheet Cash Accounts receivable Inventory Prepaid expenses Long-term investments Equipment Accumulated depreciation-equipment Total assets Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity al information: Additional in Assets Dec. 31, 2022 $54,000 38,000 45,000 16,000 Liabilities and Stockholder's Equity 0 90,000 (40,000) $200,000 $37,000 46,000 60,000 60,000 $203,000 Net income for the year ending December 31, 2022 was $45,000. Cash dividends of $25,000 were declared and paid during the year. Dec. 31, 2021 1. 2 3. Long-term investments that had a cost of $37,000 were sold for $24,000. 4. Sales for 2022 were $130,000. 5. No equipment was sold during the year. $21,000 23,000 27,000 29,000 37,000 43,000 (25,000) $155,000 $17/000 65,000 33,000 40,000 $155,000 Prepare a statement of cash flows for the year ended December 31, 2022 using the indirect method. (Show amounts that decrease cash flow with either a-sign eg -15.000 or in parenthesis eg. (15,000))

A comparative balance sheet for Carla Vista Company appears below: CARLA VISTA COMPANY Comparative Balance Sheet Cash Accounts receivable Inventory Prepaid expenses Long-term investments Equipment Accumulated depreciation-equipment Total assets Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity al information: Additional in Assets Dec. 31, 2022 $54,000 38,000 45,000 16,000 Liabilities and Stockholder's Equity 0 90,000 (40,000) $200,000 $37,000 46,000 60,000 60,000 $203,000 Net income for the year ending December 31, 2022 was $45,000. Cash dividends of $25,000 were declared and paid during the year. Dec. 31, 2021 1. 2 3. Long-term investments that had a cost of $37,000 were sold for $24,000. 4. Sales for 2022 were $130,000. 5. No equipment was sold during the year. $21,000 23,000 27,000 29,000 37,000 43,000 (25,000) $155,000 $17/000 65,000 33,000 40,000 $155,000 Prepare a statement of cash flows for the year ended December 31, 2022 using the indirect method. (Show amounts that decrease cash flow with either a-sign eg -15.000 or in parenthesis eg. (15,000))

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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