Accountants for Morston, Inc. have assembled the following data for the year ended December 31, 2024: (Click the icon to view the transaction data.) (Click the icon to view the current accounts.) Prepare Morston's statement of cash flows using the indirect method. Include an accompanying schedule of non-cash investing and financing activities. Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) Morston, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities modocs example Get more help. C MacBook Air Data table Current Assets: Cash Accounts Receivable Merchandise Inventory Current Liabilities: Accounts Payable Income Tax Payable Print 2024 $ 103,100 $ 64,500 85,000 Clear all 57,500 14,700 Done 2023 26,000 69,300 84,000 55,300 16,500 - X Check answer
Accountants for Morston, Inc. have assembled the following data for the year ended December 31, 2024: (Click the icon to view the transaction data.) (Click the icon to view the current accounts.) Prepare Morston's statement of cash flows using the indirect method. Include an accompanying schedule of non-cash investing and financing activities. Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) Morston, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities modocs example Get more help. C MacBook Air Data table Current Assets: Cash Accounts Receivable Merchandise Inventory Current Liabilities: Accounts Payable Income Tax Payable Print 2024 $ 103,100 $ 64,500 85,000 Clear all 57,500 14,700 Done 2023 26,000 69,300 84,000 55,300 16,500 - X Check answer
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question

Transcribed Image Text:ccountants for Morston, Inc. have assembled the following data for the year ended December 31, 2024:
(Click the icon to view the current accounts.)
(Click the icon to view the transaction data.)
Prepare Morston's statement of cash flows using the indirect method. Include an accompanying schedule of non-cash investing and financing activities.
Data table
Transaction Data for 2024:
Issuance of common stock for cash
Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in
used in the statement, leave the box empty; do not select a label or enter a zero.)
Depreciation expense
Purchase of equipment with cash
Acquisition of land by issuing long-term notes payable
Book value of building sold
cs example
Part 1 of 4
Get more help.
Print
$36,000
17,000
75,000
115,000
57,000
CUER
Points: 0 of 25
Payment of notes payable
Payment of cash dividends
Issuance of notes payable to borrow cash
Gain on sale of building
Net income
Done
$ 45,100
48,000
68,000
3,000
63,000
X
Done
Clear all
2024
$ 103,100 $
64,500
85,000
57,500
14,700
5
16
Check

Transcribed Image Text:Accountants for Morston, Inc. have assembled the following data for the year ended December 31, 2024:
(Click the icon to view the transaction data.)
(Click the icon to view the current accounts.)
Prepare Morston's statement of cash flows using the indirect method. Include an accompanying schedule of non-cash investing and financing activities.
Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not
used in the statement, leave the box empty; do not select a label or enter a zero.)
Cash Flows from Operating Activities:
Net Income
Adjustments to Reconcile Net Income to Net Cash
Provided by (Used for) Operating Activities:
Net Cash Provided by (Used for) Operating Activities
Morston, Inc.
Statement of Cash Flows
Year Ended December 31, 2024
modocs example Get more help.
80
F3
Q
F4
0
F5
MacBook Air
C
F6
<
...
F7
DII
F8
Data table
Current Assets:
Cash
Accounts Receivable
Merchandise Inventory
Current Liabilities:
Accounts Payable
Income Tax Payable
F9
Print
J
F10
2024
$ 103,100 $
64,500
85,000
Clear all
Done
57,500
14,700
4
F11
2023
26,000
69,300
84,000
55,300
16,500
- X
Check answer
F12
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