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Complete the following Spreadsheet for the preparation of statement of cash flows under the indirect method. (The statement of cash flows is not required.) (Enter all amounts as positive values.) Additional information: a. Net income for the year was $112,000. b. Dividends of $104,000 cash were declared and paid. c. The only noncash expense was $82,000 of depreciation. d. Purchased plant assets for $82,000 cash. e. Notes payable of $32,000 were issued for $32,000 cash. f. $82,000 increase in accounts receivable. g. $32,000 decrease in inventory. h. $22,000 decrease in accounts payable. SCORETECK CORPORATION Spreadsheet for Statement of Cash Flows-Indirect Method For Year Ended December 31, 2019 Analysis of Changes Debit Credit Balance Sheet-Debit Bal. Accounts Cash Accounts receivable Inventory Dec. 31, 2018 $ 116,000 132,000 274,000

Complete the following Spreadsheet for the preparation of statement of cash flows under the indirect method. (The statement of cash flows is not required.) (Enter all amounts as positive values.) Additional information: a. Net income for the year was $112,000. b. Dividends of $104,000 cash were declared and paid. c. The only noncash expense was $82,000 of depreciation. d. Purchased plant assets for $82,000 cash. e. Notes payable of $32,000 were issued for $32,000 cash. f. $82,000 increase in accounts receivable. g. $32,000 decrease in inventory. h. $22,000 decrease in accounts payable. SCORETECK CORPORATION Spreadsheet for Statement of Cash Flows-Indirect Method For Year Ended December 31, 2019 Analysis of Changes Debit Credit Balance Sheet-Debit Bal. Accounts Cash Accounts receivable Inventory Dec. 31, 2018 $ 116,000 132,000 274,000

FINANCIAL ACCOUNTING
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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Inventory Plant assets Balance Sheet-Credit Bal. Accounts Accumulated depreciation Accounts payable Notes payable Common stock Retained earnings Statement of Cash Flows Operating activities Investing activities Financing activities $ $ 274,000 612,000 1,134,000 112,000 174,000 382,000 212,000 254,000 1,134,000
Transcribed Image Text:Inventory Plant assets Balance Sheet-Credit Bal. Accounts Accumulated depreciation Accounts payable Notes payable Common stock Retained earnings Statement of Cash Flows Operating activities Investing activities Financing activities $ $ 274,000 612,000 1,134,000 112,000 174,000 382,000 212,000 254,000 1,134,000
Complete the following Spreadsheet for the preparation of statement of cash flows under the indirect method. (The statement of cash flows is not required.) (Enter all amounts as positive values.) Additional information: a. Net income for the year was $112,000. b. Dividends of $104,000 cash were declared and paid. c. The only noncash expense was $82,000 of depreciation. d. Purchased plant assets for $82,000 cash. e. Notes payable of $32,000 were issued for $32,000 cash. f. $82,000 increase in accounts receivable. g. $32,000 decrease in inventory. h. $22,000 decrease in accounts payable. SCORETECK CORPORATION Spreadsheet for Statement of Cash Flows-Indirect Method For Year Ended December 31, 2019 Balance Sheet-Debit Bal. Accounts Cash Accounts receivable Inventory Dec. 31, 2018 $ 116,000 132,000 274,000 Analysis of Changes Debit Credit
Transcribed Image Text:Complete the following Spreadsheet for the preparation of statement of cash flows under the indirect method. (The statement of cash flows is not required.) (Enter all amounts as positive values.) Additional information: a. Net income for the year was $112,000. b. Dividends of $104,000 cash were declared and paid. c. The only noncash expense was $82,000 of depreciation. d. Purchased plant assets for $82,000 cash. e. Notes payable of $32,000 were issued for $32,000 cash. f. $82,000 increase in accounts receivable. g. $32,000 decrease in inventory. h. $22,000 decrease in accounts payable. SCORETECK CORPORATION Spreadsheet for Statement of Cash Flows-Indirect Method For Year Ended December 31, 2019 Balance Sheet-Debit Bal. Accounts Cash Accounts receivable Inventory Dec. 31, 2018 $ 116,000 132,000 274,000 Analysis of Changes Debit Credit
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